India's Dhanuka Agritech hits over 3-1/2-mth high as Q4 profit rises

Dhanuka Agritech

25/05/2023 10:13

** Shares of Dhanuka Agritech Ltd  DHNP.NS  rise as much as
4.5% to 714.9 rupees, their highest since Feb. 1 
    ** Agriculture chemicals company says March-qtr net profit
jumped 20% to 653 mln rupees ($7.89 mln), rev from ops rose
16.6%
    ** Stock trading above its 50-, 100-, and 200-day moving
averages, suggesting bullish bias
    ** Relative strength index (RSI) above 70, indicating it is
overbought
    ** Trading volume at ~152,700 shares, 10.6x the 30-day avg
of ~14,400 shares as of 2:10 p.m. IST 
    ** Stock down 1.8% so far this year, trimming losses of 4%
up to last close



($1 = 82.74 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))