India's Himadri Specialty surges on nod to Birla Tyres resolution plan

Himadri Speciality Chemical

23/08/2023 07:15

** Shares of Himadri Specialty Chemical  HIMD.NS  jump as
much as 4.74% to a more-than-five year high of 190.95 rupees
    ** Specialty chemicals maker says committee of creditors has
approved its insolvency resolution plan for Birla Tyres 
    ** Resolution plan jointly submitted by HIMD and the
unlisted Dalmia Bharat Refractories
    ** HIMD and Dalmia Bharat Refractories have accepted the
letter of intent from Birla Tyres' insolvency resolution
professional
    ** Relative strength index above 70 since August 4,
suggesting stock is in overbought zone - Refinitiv data
    ** HIMD up ~86% in 2023 so far, including today's gains

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))