India's Jindal Poly Films up 11% on deal to buy Netherland firm

Jindal Poly Films

08/06/2023 05:23

** Shares of packaging films manufacturer Jindal Poly Films
 JPLY.NS  rise as much as 11.42% to 749.05 rupees, hitting
highest level since Jan. 24
    ** Co on Wednesday said it will acquire 100% shareholding of
JPF Netherlands Investment B.V
    ** Adds, JPF Netherlands Investment B.V is engaged in
packaging films business through its three units based out of
France, Italy, and United Kingdom
    ** Share price above 50-day, 100-day simple moving averages
but below 200-day SMAs
    ** JPLY's relative strength index above 70, indicating it is
overbought
    ** More than 334,000 shares change hands by 9:38 a.m. IST,
2.2x 30-day avg of 148,773 shares
    ** Stock down ~15.6% YTD, as of last close


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))