India's Hariom Pipe Industries up 3% on robust Q4 profit

Hariom Pipe Industries

31/05/2023 07:30

** Shares of Hariom Pipe Industries Ltd  HARO.NS  rise as
much as 3.2% to 639.95 rupees
    ** Pipe and tubes maker reported March-qtr net profit rose
by 76.6% to 172.5 mln rupees ($2.1 mln), as revenue from ops
more than doubled to 2.51 bln rupees 
    ** Stock trading above its 50-, 100-, and 200-day moving
averages, suggesting bullish bias
    ** Relative strength index (RSI) above 70, indicating stock
is overbought
    ** Moving average convergence divergence (MACD) line has
been above the signal line since May 12
    ** Trading volume at ~126,600 shares, above the 30-day avg
of ~103,000 shares as of 11:40 a.m. IST 
    ** Stock up ~75.2% so far this year


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