India's Dwarikesh Sugar hits 6-mth high as Q1 profit rises

DWARIKESH SUGAR INDUSTRIES

24/07/2023 10:50

** Shares of Dwarikesh Sugar Industries Ltd  DWAR.NS  rise
as much as 6.1% to 99.7 rupees, highest since Jan. 23
    ** Sugar manufacturer says June-qtr net profit rose 2.3% to
406.2 mln rupees ($4.96 mln), aided by a ~13% decline in total
expenses
    ** Stock trading above its 50-, 100-, and 200-day moving
averages, in bullish trend 
    ** Relative strength index (RSI) above 70, indicating stock
is overbought
    ** Trading volume at ~8.2 mln shares, 6.5x the 30-day avg of
~1.3 mln shares as of 3:00 p.m. IST 
    ** Stock last down ~8.5% YTD 



($1 = 81.8180 Indian rupees)

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