India's Kanoria Chemicals rises on expansion plans

Kanoria Chemicals and Industries

15/02/2024 06:18

** Shares of Kanoria Chemicals & Industries  KNRC.NS  up
2.7% at 127.15 rupees    
    ** The industrial chemicals maker said it plans to add
additional production capacity of hexamine by 18 metric tons per
day in Ankleshwar, Gujarat
    ** The expansion project is expected to be completed by
December 2024, with an investment requirement of 127 mln rupees
($1.5 mln)
    ** Separately, co reported that its consolidated net loss
widened to 81.3 mln rupees from 12.7 mln rupees for the Dec-qtr
    ** Revenue from operations fell by 11.2%
    ** KNRC stock down 5.7% so far this year, compared with a
15.5% loss in 2023

    ($1 = 82.9975 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))