India's Thirumalai Chemicals rises on unit starting production

Thirumalai Chemicals

11/01/2024 06:57

** Shares of Thirumalai Chemicals  THRM.NS  up 6.8% at
247.95 rupees, highest since mid-Sept 2022
    ** THRM on track for third straight session of gains
    ** Co's unit TCL Intermediates starts commercial production
for fumaric acid from its greenfield plant at Dahej
    ** Expects rev of about 40 mln rupees (around $482,000) from
its operations for qtr ending March 2024
    ** Stock trading above its 50-, 100-, and 200-day moving
averages since late-Dec. 2023
    ** More than 1.8 mln shares change hands, 2.6x the 30-day
avg
    ** Stock gained 8.5% in 2023, up ~13% in Jan so far

($1 = 82.9400 Indian rupees)

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