India's Greenply Industries jumps after JV starts production

Greenply Industries

01/04/2024 09:35

** Shares of Greenply Industries  GRPL.NS  up 4.9% at 242.60
 rupees, after rising as much as 6.9% earlier 
    ** Plywood products maker said on Saturday, joint venture
Greenply Samet has commenced manufacturing and commercial
production at its Vadodara unit in Gujarat
    ** Says production at Vadodara unit will be ramped-up in
three phases over next three years
    ** GRPL entered JV with Samet BV in 2023 to manufacture and
sell functional furniture hardware
    ** Trading vol 0.8x 30-day daily avg
    ** Avg rating of nine analysts equivalent of "buy", median
PT is 293 rupees - LSEG data
    ** Stock fell 12.1% in March, snapping four straight monthly
gains



 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))