India's IFGL Refractories rises on setting up green field facility JV

IFGL Refractories

10/10/2024 07:44

** Shares of refractory items maker IFGL Refractories
 IFGL.NS  rise 5.7% to 615.20 rupees
    ** Co says it entered an agreement with Marvels
International Group and Marvel Refractories (Anshan) to set up a
joint venture in India
    ** JV for setting up green field facility at capital outlay
of about 3 bln rupees ($35.7 mln)
    ** Stock on track to snap 3 weeks of losses; gained ~3% so
far this week
    ** More than 15,000 shares traded as of 12:04 p.m. IST,
busiest day yet in almost a month
    ** With session's gains, IFGL trims YTD loss to 23.4%

($1 = 83.9650 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))