India's Kotyark Industries up 18% on new supply orders

Kotyark Industries

05/04/2023 06:04

** Shares of biofuel manufacturer Kotyark Industries
 KOTY.NS  rise as much as 17.68% to 426 rupees, hitting highest
level since Feb. 9
    ** Stock of co on track for a second consecutive session of
gains, if trends hold
    ** Co on Monday said it, along with Yamuna Bio Energy, has
secured allocation for supply of 20,731 KL of biodiesel to oil
marketing companies (OMC)
    ** Share price above 50-day, 100-day simple moving averages
but below 200-day simple moving averages 
    ** Stock's moving average convergence divergence (MACD) line
above the signal line since Mar. 21, indicating a bullish bias
    ** Stock is witnessing its most active trading session in
nearly 4 months since Dec. 9
    ** More than 59,000 shares change hands by 10:19 a.m. IST,
4x 30-day avg of 14,880 shares
    ** Stock down ~1.4% YTD, as of last close


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