India's Kanoria Chemicals rises over 11% on setting up new plant

Kanoria Chemicals and Industries

24/02/2023 04:32

** Shares of Kanoria Chemicals & Industries Ltd  KNRC.NS 
rise as much as 11.4% to 135.5 rupees, biggest pct gain since
Feb. 20
    ** Chemical manufacturer said on Thursday it is setting up a
new formaldehyde plant with capacity of 300 tonnes per day at
Ankleshwar, Gujarat
    ** Stock trading below its 50-, 100-, and 200-day moving
averages
    ** Trading volume at ~85,600 shares, 3X the 30-day avg of
~28,600 shares as of 9:50 a.m. IST 
    ** Stock was down about 1% last year, snapping 2 years of
gains 
 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))