India's Tega Industries rises on unit getting contract in consortium with NMDC

Tega Industries

28/06/2024 05:13

** Shares of consumable products maker for mining Tega
Industries  TEGA.NS  rise as much as 5.4% to 1684 rupees, last
up 2.1%
    ** Unit Tega McNally Minerals (TMML) enters into a contract
as a consortium member with NMDC  NMDC.NS  for supply and
commissioning of new 7 MTPA iron ore screening & beneficiation
Plant in Karnataka
    ** Contract worth 8.72 billion rupees ($104.6 million) with
TMML's share at 1.20 billion rupees
    ** TEGA up ~32% in June-quarter so far, on track for third
straight quarter of gains
    ** Stock up ~42% YTD, had gained ~99% in 2023 for best ever
yearly gains since listing in 2021

($1 = 83.3970 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))