India's PCBL rises on joint venture agreement with Kinaltek

PCBL Chemical

18/03/2024 08:02

** Shares of carbon black maker PCBL  PCBL.NS  up 2.1% at
250.25 rupees, after easing from a high of 5.6% earlier in the
session 
    ** Stock set to snap four weeks of consecutive losses if
gains hold
    ** PCBL executes joint venture agreement with Kinaltek Pty,
with PCBL owning 51% shareholding in the JV
    ** JV to expand into battery application market    
    ** Average analyst rating on stock is "buy"; median price
target at 337.5 rupees, a premium of 30.4% to day's high - LSEG
data


 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))