India's Prakash Industries up 6% after Q4 PAT rises

Prakash Industries

16/05/2023 09:21

** Shares of Prakash Industries Ltd  PRKI.NS  climb as much
as 5.5% to 60.40 rupees, their highest since Feb. 16
    ** Steel products manufacturer and power generation co
reports ~10% rise in profit after tax of 579.6 million rupees
($7.09 million) for the March-qtr 
    ** Total rev from ops at 10.11 billion rupees, fell 12.7%
    ** Co also expects to commence coal extraction from
Bhaskarpara Commercial Coal Mine by end FY24
    ** About 1.1 mln shares change hands by 1:43 p.m. IST, 3x
the 30-day avg - Refinitiv Data
    ** If trends hold, stock on track to advance for second
consecutive session   
    ** Stock last up 3.5%, extending YTD gains to 17.3% 


($1 = 81.7800 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))