India's Alembic jumps most in over 3 months as Q3 profit climbs

Alembic

10/02/2023 05:57

** Shares of Alembic Ltd  ALMC.NS  rise as much as 7.3% to
71.95 rupees, their biggest intraday pct gain since Oct. 27,
2022
    ** The manufacturer of active pharmaceutical ingredient on
Thursday said quarterly net profit after tax more than doubled
to 108.2 million rupees ($1.31 million)
    ** ALMC reported 60% jump in revenue from operations at
306.1 million rupees for the December-quarter
    ** Stock crossed 50-day (71.14 rupees), 100-day (70.51
rupees) and 200-day (70.38 rupees) simple moving average of
shares
    ** About 251,417 shares change hands by 11:02 a.m. IST vs
30-day avg of 96,766 shares
    ** Stock down 5.8% so far this year, as of last close 
($1 = 82.5650 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))