India's IFB Agro jumps most in a year on plans for new plant, exports

IFB Agro Industries

28/03/2023 08:07

** Shares of IFB Agro Industries  IFBA.NS  up as much as
17.43% to 488 rupees, their highest since Feb. 24
    ** Co hits sharpest intraday pct gain since March 31, 2022
    ** Alcohol manufacturer approves plans to set up aquafeed
plant in Odisha at an estimated capex of 450 mln rupees ($5.5
mln)
    ** Also approves proposal for manufacturing of value-added
marine products in Vietnam for export
    ** About 129,677 shares change hands as of 12:15 p.m. IST,
vs 38.9x 30-day average of 3,331 shares 
    ** Stock down 22.85% YTD as of last close, extending 14.38%
losses in 2022

($1 = 82.2630 Indian rupees)

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