India's Vipul Organics up after plans to start Gujarat plant construction

Vipul Organics

11/12/2023 09:41

** Shares of Vipul Organics  VIPU.BO  up as much as 8.2% at
167 rupees, their highest since Sept. 23, 2022
    ** Specialty chemicals co said it will begin construction of
its Sayakha plant in Gujarat on Dec. 14 
    ** Plant will be spread over 25,000 sq meters; to produce
pigments, pigment intermediaries and colours
    ** VIPU trading above its 50-, 100-, and 200-day simple
moving averages
    ** Co's relative strength index is above 70, indicating
stock has been overbought 
    ** About 84,600 shares change hands, 6.2x 30-day average   
    ** Stock last up 3.7%, extending YTD gains to over 24% 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))