India's Krishna Defence rises on $5.3 mln order win

Krishna Defence & Allied Industries

05/10/2023 07:27

** Shares of Krishna Defence and Allied Industries  KISH.NS 
rise as much as 8.7% to 299 rupees, highest level since Sept. 22
    ** Stock logs biggest intraday pct gain since Aug. 30
    ** Defence equipment maker receives order worth 437.6 mln
rupees ($5.26 million)
    ** Order from India's Ministry of Defence for supply of
special steel product to be used for naval applications
    ** Stock trading above 50-, 100-, and 200-day moving
averages
    ** About 110,000 shares change hands by 11:53 a.m. IST vs
1.7x 30-day avg of 65,867 shares
    ** Stock last up 4.2%, lifting YTD gains to nearly 84%





($1 = 83.2480 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))