BUZZ-India's Carborundum Universal gains on acquiring US firm Silicon Carbide Products

Reuters09-17 12:54

** Shares of Carborundum Universal rise as much as 5.9%, set to snap three-session losing run

** Chemical manufacturer acquires 100% stake in U.S. firm Silicon Carbide Products at enterprise value of $6.7 mln

** Invests 80 mln rupees ($954,324) in Grian Energy (GEPL)

** Enters power purchase agreement with GEPL

** More than 243,000 shares traded, 1.6x the 30-day avg

** Avg rating of analysts is "hold"; median PT is 1,567.5 rupees, ~2.5% higher than current price of 1,529.1 rupees - LSEG

** CRBR last up 3.8%, extending YTD gains to ~37%

($1 = 83.8290 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

((Anuran.Sadhu@thomsonreuters.com ;))

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