India's Gulshan Polyols rises 14% on Nayara Energy order win

Gulshan Polyols

15/12/2022 04:40

** Shares of specialty chemicals company Gulshan Polyols Ltd
 GULS.NS  rise as much as 13.6% to 279.15 rupees, marking their
sharpest intraday pct gain since April 23, 2021
    ** Co said on Wednesday that it received an order to supply
ethanol to Nayara Energy with an order value of 54.4 million
rupees ($658,388.40)
    ** Co was also allocated ethanol from its manufacturing unit
at Boregaon plant with an order value of 1.37 billion rupees
    ** Shares rose above their 200-day moving average after
staying below since May 18
    ** Stock hits its highest since Sept. 20
    ** More than 240,000 shares change hands by 9:52 a.m. IST,
4.9x 30-day avg of 49,693 shares
    ** Stock down 2.3% year to date, improving from a 10.3% dip
as of last close 
($1 = 82.6260 Indian rupees)
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))