India's Rashtriya Chemicals up on Q3 profit soar

Rashtriya Chemicals and Fertilizers

08/02/2023 06:09

** Shares of Rashtriya Chemicals and Fertilizers Ltd
 RSTC.NS  rise as much as 4.9% to 114.8 rupees after reporting
70% rise in December-quarter profit on Tuesday
    ** The bio-fertilizer and industrial chemicals maker said
quarterly profit after tax (PAT) climbed 2.45 billion rupees
($29.63 million) on the back of strong revenue growth 
    ** Revenue from operations rose 68.6% to 62.35 billion
rupees
    ** Stock crossed 100-day simple moving average (113.11
rupees) and continues to trade above 200-day simple moving
average (101.8 rupees) 
    ** About 4.2 million shares change hands by 11:13 a.m. IST
vs 30-day avg of 10.1 million shares
    ** Stock down 18.7% so far this year, as of last close 
($1 = 82.6950 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))