India's Clean Science hits 5-month high after Q4 profit rises

Clean Science and Technology

18/05/2023 08:37

** Shares of organic chemicals manufacturer Clean Science
and Technology  CLEA.NS  rise as much as 3.08% to 1,574.40
rupees, hitting highest level since Dec. 9, 2022
    ** Co says its Q4 consolidated net profit rises 29.1% YoY,
while revenue from ops is up ~6%
    ** CLEA declares final dividend of 3 rupees per share for FY
ended Mar. 31
    ** Share price above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** CLEA's relative strength index above 70, indicating it is
overbought
    ** More than 167,000 shares change hands by 12:54 p.m. IST,
2.1x 30-day avg
    ** 5 of the 9 analysts on stock have "buy" or "strong buy"
rating, 3 have "hold" while 1 rate it at "strong sell"; median
PT is 1,600 rupees - Refinitiv data
    ** Stock up 2.5% YTD, as of last close outperforming Nifty
500 index  .NIFTY500  which is down 0.1%


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