India's IFGL Refractories jumps on nod to set up manufacturing facility

IFGL Refractories

11/07/2023 07:15

** Shares of IFGL Refractories  IFGL.NS  up as much as 11.4%
to 377 rupees, their highest since Aug 18, 2021
    ** Refractory items maker says it received approval from
Odisha government for setting up a new manufacturing facility
for continuous casting refractories
    ** New manufacturing facility to have installed capacity of
240,000 pieces per annum
    ** Project cost estimated to be in the range of 1.50 bln
rupees ($18.2 mln) 
    ** Over 168,000 shares change hands by 11:34 a.m. IST, 2.5x
the 30-day moving avg
    ** As of last close, stock up ~29% so far this year 



($1 = 82.3950 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))