India's Goa Carbon hits over 5-year high after quarterly profit rise

Goa Carbon

17/01/2024 04:34

**  Shares of calcined petcoke maker Goa Carbon  GOAC.NS  
jump 13% to 686 rupees, highest since Oct 2018
    ** GOAC's Dec-qtr profit after tax up 35.2% y-o-y, as raw
material costs fall 50.3%; sale of products declined 34.7%
    ** Stock set for biggest one-day jump since Nov 2022 and on
track to advance for fourth straight session, if gains hold
    ** More than 1 million shares trade, 9.4x 30-day avg volume 
    ** GOAC currently up 9%, gains 15.5% YTD after 9.1% rise in
2023 
    

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))