India's Astral climbs to 8-month high on jump in Q4 earnings

Astral

16/05/2023 07:18

** Shares of Astral Ltd  ASTL.NS  rise as much as 9.02% to
1,739.65 rupees, highest in nearly eight months
    ** Pipes maker reports 46% Y/Y rise in net profit to 2.06
bln rupees for March qtr, rev from ops grew 8% 
    ** Co approves dividend of 2.25 rupees per share
    ** Stock most active in nearly four years, with a trading
volume of 4.29 mln shares as of 11:36 a.m. IST, more than 11x
the 30-day avg - Refinitiv data
    ** On track for fourth straight session of gains, if trend
holds
    ** The relative strength index of the stock is 87,
suggesting it may be overbought

    
($1 = 81.7800 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))