India's KIOCL jumps on mining lease deed with Karnataka government
03/01/2023 05:53
** Shares of KIOCL Ltd KIOC.NS rise as much as 4% to
233.40 rupees, mark sharpest intraday pct gain since Dec. 29,
2022
** KIOC says Karnataka government executed a lease deed on
Jan. 2 with co for mining of iron and manganese ore in Ballari
district, spread over 388 ha for a period of 50 years
** Share price is above the 50-day, 100-day and 200-day
exponential moving average, suggesting bullish trend
** Stock's moving average convergence divergence (MACD) line
seen above signal line since Dec. 30, 2022, indicating bullish
bias
** KIOC is engaged in the business of manufacturing pellets
from iron ore
** More than 191,000 shares change hands by 10:53 a.m IST,
1.2x 30-day avg of 166,153 shares
** Stock fell 11.53% last year
(Reporting by Ashish Chandra in Bengaluru)
((ashish.chandra@thomsonreuters.com (+91 7982114624))