KS Oils up 4% on Malaysian JV

MUMBAI: Shares of KS Oils rose over 4 per cent after the company announced its joint venture in Malaysia with a 49 per cent stake for acquisition in palm plantations and/or to manufacture crude palm oil. The company is also acquiring its first plantation in Malaysia for upto 11.50 Malaysian ringitt.

This alliance would enable the company's long term objective of backward integration and to secure raw materials sourcing for its crude palm oil requirement from South East Asia, the company said in a notice to BSE.

At 10.56 AM, KS Oils shares were up 4.41 percent at Rs 71 on BSE with volume traded 15,80,033 against two-week average of 20,38,405 shares.