India's Panama Petrochem hits near 1-1/2-yr high on Q4 profit rise

Panama Petrochem

27/05/2024 09:11

** Shares of Panama Petrochem  PAPT.NS  rise as much as
12.9% to 392 rupees, highest since Dec. 12, 2022
    ** The commodity chemicals maker said on Monday its Q4
consol net profit rose 20% Y/Y to 609.8 mln rupees ($7.3 mln) on
strong demand
    ** More than 2 mln shares change hands, 17.4x its 30-day
avg, busiest day since Nov. 25, 2022
    ** PAPT trading above its 50-day, 100-day and 200-day simple
moving avg for over a week
    ** Stock up ~13% so far in May



($1 = 83.0690 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))