India's Godrej Agrovet soars on land grant for palm oil biz

Godrej Agrovet

18/07/2023 10:36

** Shares of Godrej Agrovet Ltd  GODE.NS  rise as much as
12.2% to 530 rupees; logs biggest intraday pct gain since April
28, 2022
    ** Agribusiness firm says it has been allotted potential
area of 47,000 acre in the southern Indian state of Telangana by
the state government
    ** Area to be used for establishing oil palm processing
units
    ** Relative strength index (RSI) above 70, indicating stock
is overbought
    ** More than ~1 mln shares change hands by 2:50 p.m. IST in
stock's most active session since Aug. 23, 2022
    ** Average rating of seven analysts covering stock
equivalent to 'hold'; median PT is 450 rupees - Refinitiv data
    ** Stock last up ~9% YTD


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))