India's Nilkamal jumps 14% after Q4 profit more than doubles

Nilkamal

22/05/2023 08:43

** Shares of furniture manufacturer Nilkamal Ltd  NKML.NS  
rise as much as 14.25% to 2,439 rupees, hitting highest level
since Feb. 3, 2022
    ** Stock on track for a sixth consecutive session of gain,
if trends hold
    ** Co on Saturday said its Q4 profit more than doubled YoY
while revenue from ops rose ~12% YoY
    ** Share price above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** NKML's relative strength index above 70, indicating it is
overbought
    ** Stock is witnessing its most active trading session in a
year since May 23
    ** More than 109,000 shares change hands by 1:02 p.m. IST,
13.2x 30-day avg of 8,237 shares
    ** One of the two analysts covering the stock have a "strong
buy" rating while the second analyst has "hold;" median PT is
2,537.50 rupees - Refinitiv IBES data
    ** Including session's gain, stock up ~27% YTD




 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))