India's RHI Magnesita hits record high after refractory deal

RHI Magnesita India

19/10/2022 07:46

**  Shares of RHI Magnesita India Ltd  RHIM  rise as much as
2% to a record high of 733 rupees
    ** Co signs agreement with Hi-Tech Chemicals to buy
refractory business via slump sale for a deal worth 6.21 bln
rupees ($75.40 mln)  urn:newsml:reuters.com:*:nFWN31J3TQ
    ** Stock set for a fourth straight session of gains
    ** More than 422,897 shares change hands vs 30-day avg of
398,910 shares
    ** Median PT is 707.5 rupees - Refinitiv data
    ** Stock up 96% YTD, up to last close
      ($1 = 82.3570 Indian rupees)
 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))