India's Cheviot up after Q3 profit rises

Cheviot

30/01/2024 09:39

** Shares of Cheviot Co  CHVI.NS  up 0.3% at 1,470.05
rupees; they rose as much as 5.7% earlier in the session
    ** Jute products maker reports ~41% Y/Y rise in Q3 profit
    ** While total income down 7%, profit growth aided by a ~13%
decline in total expenses
    ** Share price above 50-day, 100-day and 200-day exponential
moving averages since Dec. 8 when cabinet committee on economic
affairs approved mandatory packaging of foodgrains and 20% of
sugar in jute bags
    ** Trading vol 4.3x the 30-day daily avg    
    ** Stock up 24.5% in Dec. qtr vs 2.2% fall in Sept. qtr



 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))