India's Kotyark Industries at near 3-month high on IOC contract

Kotyark Industries

06/04/2023 05:15

** Shares of biofuel manufacturer Kotyark Industries
 KOTY.NS  rise as much as 10.45% to 453 rupees, hitting their
highest level since Jan 19
    ** Co stock on track for a third consecutive session of
gain, if trend holds
    ** Co said on Wednesday that it received a letter of intent
from Indian Oil Corporation  IOC.NS  for contract worth around
404.8 mln rupees ($4.94 mln)
    ** Share price above 50-day, 100-day simple moving averages,
but below 200-day simple moving averages 
    ** KOTY's relative strength index above 70, indicating it is
overbought
    ** More than 11,000 shares change hands vs 30-day avg of
18,007 shares
    ** Stock up 11.7% YTD, as of last close


     ($1 = 81.9000 Indian rupees)

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