India's Paradeep Phosphates gains on $500 million investment in Odisha
26/10/2026 05:21
BUZZ-India's Paradeep Phosphates gains on $500 million investment in Odisha ** Shares of India's Paradeep Phosphates PRAO.NS rise 2.22% to 136.46 rupees
** Stock on track to snap four sessions of losses, if trend holds
** Co signed an MoU with Odisha govt, intending to invest of 47.50 billion rupees ($500.32 million) in new chemical and fertilizer facilities in the state
** Proposed investment includes setting up a chemical plant and a bio-fertilizer manufacturing facility, along with initiatives to improve farm productivity
** Co says investment is planned over the coming years and is expected to generate direct and indirect employment
** YTD stock down 17.1%
($1 = 94.9400 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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