India's South West Pinnacle Exploration up most in near 5 months on order win

South West Pinnacle Exploration

20/03/2023 05:13

** Shares of exploration services co South West Pinnacle
Exploration Ltd  SWPI.NS  up as much as 19.1% at 120 rupees,
their biggest intra day pct gain since Nov. 2
    ** Stock at highest level since Feb. 22, 2023
    ** Co says it received letter of award for a project worth
840 mln rupees ($10.2 mln) from Reliance Industries Ltd
 RELI.NS  
    ** LOA for coal bed methane (CBM) production in Madhya
Pradesh 
    ** SWPI on track to rise for second straight session, if
gains hold
    ** Over 50,000 shares change hands by 10:31 a.m. IST, 1.0x
the 30-day moving avg
    ** As of last close, stock down ~15% so far this year,
extending its ~18% decline in 2022



($1 = 82.5025 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))