India's PCBL extends rally to new record high on JV with Kinaltek

PCBL Chemical

30/11/2023 06:58

** Shares of PCBL  PCBL.NS  rise as much as 4.3% to hit a
new record high at 278 rupees
    ** The specialty chemicals manufacturer has hit record high
for 7th time this month
    ** PCBL said on Wednesday it has entered into a term sheet
to form a JV Company with Australia's Kinaltek Pty, with PCBL
holding 51% stake in JV
    ** JV shall own the intellectual properties of nano-silicon
based products for battery applications and will set up
manufacturing facilities for such products - PCBL
    ** Trading vol nearly 1.1x the 30-day daily avg
    ** Avg rating of 6 analysts close to equivalent of "buy",
median PT is 284.50 rupees - LSEG data
    ** Stock last up 2%, bumping YTD gains to 109.7%




 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))