India's DB Corp hits near 5-year high on rise in June quarter earnings

DB

20/07/2023 08:23

** Shares of DB Corp  DBCL.NS  rise as much as 6.65% to a
near five-year high of 207 rupees after reporting uptick in
June-quarter earnings
    ** Print media firm reports more than two-fold year-on-year
increase in consolidated net profit to 787.6 mln rupees 
    ** Revenue rises 12% Y/Y to 5.54 bln rupees; core profit up
71% to 1.17 bln rupees
    ** Co also declares an interim dividend of 3 rupees per
share 
    ** Stock most active in over six months, with a trading
volume of 1.93 mln shares as of 12:36 p.m. IST, more than thrice
the 30-day avg - Refinitiv data
    ** Relative strength index has been above 70 since July 3,
suggesting stock has been overbought
    ** Stock up 63.5% in 2023 so far compared with 9% uptick in
Nifty 50 index  .NSEI 
    
    

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