India's Banco Products hits over 5 month high as Q3 profit soars

Banco Products (India)

13/02/2023 09:24

(Repeats with no changes to text)
    ** Shares of Banco Products (India) Ltd  BNCO.NS  rise as
much as 7.5% to 231.5 rupees, highest since Sept. 6, 2022
    ** Engine cooling systems maker reports a ~5.8x jump in
Dec-qtr net profit to 982 million rupees
    ** Revenue from ops climbs to 5.1 bln rupees; earnings per
share up to 13.73 rupees from 2.39 rupees a year ago
    ** Co declares interim dividend of 8 rupees per share
    ** Stock trading above 50-day, 100-day and 200-day moving
avgs since past 5 sessions
    ** BNCO's relative strength index (RSI) above 70, indicating
it is overbought
    ** More than 531,000 shares traded by 2:00 p.m. IST, 5.4x
the 30-day avg
    ** Stock gained 15.8% in 2022, clocking third straight year
of annual gains
 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com; +91 8075473630;))