India's Prince Pipes surges on Q4 profit, sees busiest day since Apr

Prince Pipes and Fittings

26/05/2023 05:53

** Shares of Prince Pipes and Fittings Ltd  PRCE.NS  surge
as much as 6.72% at 624.90 rupees - their biggest intraday pct
gain since Dec 2, 2022 
    ** The Indian plastic pipes maker's stock posts highest
level since Apr 12
    ** PRCE posted a 6.7% rise in Q4 profit to 941.2 mln rupees
($11.4 million) on Thursday 
    ** Co shares trading above 50, 100 and 200-day simple moving
average, indicating bullish momentum 
    ** More than 828,271 shares changed hands by 10:10 A.M. IST,
5.4 times its 30-day average of 153,766 shares
    ** Co sees heaviest trading day since Apr 12 
    ** Eight out of 9 analysts rate the stock "buy" or higher, 1
suggests "hold"; median TP 710 rupees 
    ** YTD stock had risen ~3% 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))