India's Dhanlaxmi Bank surges on Q4 profit jump

Dhanlaxmi Bank

23/05/2023 06:06

** Shares of Dhanlaxmi Bank  DNBK.NS  rise as much as 6.1%
to 18.2 rupees, highest since Feb. 1
    ** The lender on Monday reported a 63% jump in its net
profit to 381.7 mln rupees ($4.67 million) for the qtr
    ** Adds that interest earned rose to 2.74 bln rupees vs 2.35
bln rupees a year ago
    ** If trends stand, DNBK on track for second consecutive
session of gains
    ** DNBK trading above its 50-day, 100-day and 200-day simple
moving averages, indicating bullish sentiment
    ** More than 2.8 mln shares change hands by 10:30 a.m. IST
vs 1.8x 30-day avg of 1.6 mln shares
    ** Stock had fallen 27% in the March-qtr, and is down ~14%
YTD



($1 = 81.7800 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))