India's Chemfab Alkalis jumps on Q4 profit rise

Chemfab Alkalis

19/05/2023 06:11

** Shares of Chemfab Alkalis  CHMF.NS  rise as much as 10%
-biggest pct gain since March 2022 - to 314.7 rupees 
    ** Co on Thursday said its March-qtr consol net profit rises
19% to 152.6 million rupees ($1.87 million)
    ** Additionally, co's total expenses fell 27% during the
quarter ended March 31
    ** Co has also recommended final dividend of 1.25 rupees per
share
    ** More than 175,300 shares change hands by 10:35 a.m. IST
vs 7.3x 30-day avg of 23,969 shares
    ** CHMF trading above its moving average convergence line,
indicating bullish sentiment
    ** Stock up 1.4% YTD up to last close



($1 = 81.7800 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))