India's Manali Petrochemicals jumps on environmental clearance to expand capacity

Manali Petrochemicals

06/10/2022 11:08

** Shares of petrochemicals maker Manali Petrochemicals
 MNLI.NS  close 4.8% higher at 97.4 rupees after rising as much
as 6.4% in their sharpest intraday pct gain since Sept. 12
    * Co gets environmental clearance from govt to expand
propylene glycol capacity in Plant 2  urn:newsml:reuters.com:*:nFWN3170PS
    ** Project to be implemented in two phases; first phase to
be completed within 18-21 months after other regulatory
approvals (https://bityl.co/EulM)    
    ** Stock hits highest level since Sept. 23 in second
consecutive session of gains
    ** More than 948,096 shares change hands in the session vs
30-day avg of 651,093 shares
    ** Stock down 14.73% YTD, as of last close
 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))