India's Dhampur Sugar Mills rises on dividend declaration

Dhampur Sugar Mills

05/04/2023 05:16

** Shares of Dhampur Sugar Mills  DAMS.NS  rise as much as
2.9% to 236.90 rupees, hitting highest level since Mar. 10
    ** Stock on track for a fifth consecutive session of gain,
if trend holds
    ** Co on Monday declared an interim dividend of 5 rupees per
share and special dividend of 1 rupee per share on successful
commissioning of new distillery project
    ** Stock trading above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** Stock's moving average convergence divergence (MACD) line
above the signal line since Mar. 31, indicating a bullish bias
    ** More than 236,000 shares change hands in early trade vs
30-day avg of ~494,000 shares
    ** Stock down 7.4% YTD as of last close, compared to rival
co Uttam Sugar Mills  UTSM.NS , which is down 16.5% in the same
period

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