India's Gujarat State Fertilizers tops 6-week high as profit surges

Gujarat State Fertilizers & Chemicals

22/07/2022 05:28

** Shares of state-run Gujarat State Fertilizers and
Chemicals  GSFC.NS  rise as much as 10% to 156.95 rupees,
highest since June 8
    ** GSFC reported a 154% surge in consol June-quarter profit
on Thursday, boosted by a 63% jump in revenue  urn:newsml:reuters.com:*:nFWN2Z23HZ
    ** Rev from its main fertilizer segment soared 83%
    ** Stock posts biggest intraday pct climb since June 21, set
for eighth straight session of advances in longest gaining
streak since August 2020
    ** More than 5.7 mln shares change hands by 0422 GMT, 3.2x
30-day avg of 1.8 mln shares
    ** Stock up 17.5% YTD up to last close, vs a 4.8% fall in
the Nifty 500  .NIFTY500 

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))