India's Cheviot hits 52-week high on June-quarter profit growth

Cheviot

10/08/2023 07:54

** Shares of Cheviot Co  CHVI.NS  rise as much as 10.61% to
fresh 52-week high of 1,351.50 rupees
    ** Jute products maker reports ~70% year-on-year rise in
June-quarter profit to 168.7 mln rupees 
    ** While revenue falls 20.5%, profit growth aided by a 20%
decline in total costs
    ** Stock most active in nearly two months, with a trading
volume of 22,839 shares as of 12:19 p.m. IST, 8.6 times the
30-day avg - Refinitiv data
    ** Relative strength index rises above 70, suggesting stock
may be overbought
    ** CHVI up 10.65% in 2023 so far compared with 8% rise in
Nifty 50 index  .NSEI 

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