India's Sarda Energy jumps on approval to expand mill operations

Sarda Energy & Minerals

16/03/2023 04:43

** Shares of Sarda Energy and Minerals Ltd  SAEM.NS  rise as
much as 2.5% to 1,192.1 rupees, their biggest intraday pct gain
since March 10
    ** Sarda Energy said on Wednesday the Chhattisgarh
Environment Conservation Board in Raipur has approved the co's
decision to expand its rolling mill to 2,50,000 tonnes per annum
from 1,80,000 tonnes 
    ** If trend holds, stock on track for a second consecutive
session of gains
    ** Co stock has been trading above its 50-day, 100-day and
200-day simple moving averages
    ** Co trading above its moving average convergence
divergence line (MACD), indicating bullish sentiment
    ** Stock up 11.6% YTD, up to last close


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))