India's Mawana Sugars jumps 9% on exploring land sale prospects

Mawana Sugars

29/03/2023 09:30

** Shares of Mawana Sugars Ltd  MAWS.NS  rise as much as
9.4% to 85.95 rupees, their biggest intraday pct jump since
March 8
    ** The sugar and ethanol maker on Wednesday said that it has
established a committee of independent directors to explore the
possibility of selling non-agricultural land of about 40.493
acres 
    ** Stock reaches its 50-day simple moving average after
staying below for 3 consecutive sessions
    ** Moving average convergence divergence (MACD) line is
under the signal line, suggesting bearish momentum
    ** About 383,000 shares change hands, 1.6x the 30-day avg of
234,055 shares - Refinitiv Data
    ** Stock down ~21% so far this year, as of last close


 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))