India's Gujarat Apollo Industries at over 2-year high on Keestrack JV

Gujarat Apollo Industries

13/09/2022 05:32

** Shares of Indian mining equipment manufacturer Gujarat
Apollo Industries Ltd  GJAI.NS  rise as much as 20% to 237
rupees, its biggest intra-day pct gain since June 2020
    ** Co on Monday announced a joint-venture agreement with
Keestrack for the purposes of carrying on the business of
agricultural machinery and components  urn:newsml:reuters.com:*:nFWN30J1PP
    ** GJAI.NS and Keestrack will subscribe to 200,000 shares
each at an issue price of 10 rupees per equity share (https://bityl.co/ELhz)
    ** More than 119,000 shares change hands by 0358 GMT, 33.7x
30-day avg of 3544 shares
    ** Stock down 2.4% so far this year as of last close


 (Reporting by Atreya Raghavan in Bengaluru)
 ((Atreya.Raghavan@thomsonreuters.com; Mobile: +91 8527959656))