India's Sigachi Industries hits record high after unit's JV with Abu Dhabi-based firm

Sigachi Industries

27/02/2024 05:26

** Shares of Sigachi Industries  SIGC.NS  rise as much as
6.6% to a record high of 95.9 rupees
    ** The pharma and food ingredients maker said its unit has
entered into a joint venture with iConsult Trading Consultancy
LLC, a unit of Abu Dhabi-based investment firm iMass Investments
    ** The joint venture, Sigachi Global, is estimated to have a
revenue of $54 mln by 2029, the company said in a statement
    ** Stock has been trading above its 100-day and 200-day
moving average since last June
    ** More than 3.6 mln shares change hands, 1.2x of 30-day avg
    ** Stock has gained 19.8% so far this month

    

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))