India's Manali Petrochemicals rises on entering power procurement deals

Manali Petrochemicals

05/07/2023 09:16

** Shares of India's Manali Petrochemicals Ltd  MNLI.NS  up
as much as 4.77% at 70.3 rupees, their highest since June 16
    ** Industrial raw material maker logs sharpest intraday pct
gain since June 16, on track for third consecutive session of
gains if trends hold
    ** Co entered into two captive power agreements with units
of First Energy Pvt. Ltd. for procurement of wind and solar
power 
    ** Agreement for wind power is valued at 24.8 million rupees
($301,781.99), 10.9 million rupees for solar power
    ** About 880,402 shares change hands as of 1:35 p.m. IST, vs
2.7x 30-day average of 326,205 shares  
    ** Stock down 17.8% YTD as of last close 

($1 = 82.1785 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))