India's Ratnamani Metals and Tubes up after rise in qtrly profit

Ratnamani Metals and Tubes

03/11/2023 04:38

** Shares of Ratnamani Metals and Tubes  RMT.NS  rise 5.6%
to a record high of 2,984.05 rupees
    ** Co late on Thursday reported a 65.9% rise in its Sept-qtr
consolidated net profit to 1.64 bln rupees ($19.70 mln) 
    ** Steel tubes and pipes segment revenue, the largest
contributor to rev from ops, increased 19.1% Y/Y
    ** Stock above its 100-, 200-day simple moving avg
    ** More than 111,000 shares traded as of 09:47 a.m. IST, 2.8
times their 30-day moving avg
    ** RMT last up 4% adding to YTD gains of ~50%


($1 = 83.2450 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))