India's Kirloskar Ferrous hits record high on commissioning ops at Koppal plant

Kirloskar Ferrous Industries

31/03/2023 10:15

** Shares of Kirloskar Ferrous Industries Ltd  KRFI.NS  rise
as much as 2.5% to 468.70 rupees, hitting a record high
    ** The pig iron and iron castings maker said on Thursday
that it has commissioned operations of 20 MW power plant in
second phase of its coke oven plant, situated at Koppal,
Karnataka
    ** Installation includes capex of about 2.90 bln rupees
($35.27 mln)
    ** KRFI stock trading above its 50-, 100-, and 200-day
moving averages; on track to post third straight session of
gains if trends hold 
    ** About 93,113 shares change hands by 2:22 p.m. IST, vs
30-day avg of 247,705 shares
    ** Stock up 29.1% so far this year, up to last close


($1 = 82.2175 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((Dimpal.Gulwani@thomsonreuters.com;))