India's edible oil cos rise on extended import duty reduction

Patanjali Foods

22/12/2023 07:03

** Shares of edible oil manufacturers Adani Wilmar  ADAW.NS 
and Patanjali Foods  PAFO.NS  rise as much as ~5%
    ** Indian govt extends import duty reduction for edible oils
to March 2025, as per government notification
    ** Shares of PAFO open higher on Friday, before rising 5.4%
to an intraday high of 1,629 rupees per share after the news
    ** PAFO set to rise for a fourth straight month
    ** ADAW rises as much as 5.2% to 369.7 rupees, currently
trading 4.2% higher 
    ** ADAW set to rise most in a quarter since Sept-qtr FY23
    ** PAFO extends YTD gains to 35%, on track to rise for
fourth straight year
    ** ADAW trims YTD losses to 40%, set to fall for second year
since its listing in Feb 2022




 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))