India's Raghav Productivity rises on silica manufacturing JV, rating upgrade

RHI Magnesita India

11/09/2026 05:30

** Quartz-related items maker Raghav Productivity Enhancers RAGV.NS shares rise 1.9% to 1,776 rupees
** Co enters JV with TRL Krosaki to establish a 350,000 MTPA silica ramming mass manufacturing facility in Odisha, with an initial investment of 1 billion rupees ($10.45 million)
** JV will secure exclusive long-term access to TRL Krosaki's quartzite mines, while RAGV will receive royalties for its patented manufacturing process
** Separately, CRISIL upgrades credit rating to "CRISIL A/Stable" from "CRISIL A-/Positive" 
** Stock holds trailing 12-month PE of 127.7 vs industry median of 14.1 - data compiled by LSEG
** YTD, stock up 87.5% 

($1 = 95.6625 Indian rupees)

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))