India's Responsive Industries hits near 1-yr high on profit swing

Responsive Industries

04/05/2023 09:02

** Shares of Responsive Industries Ltd  RSPO.NS  rise as
much as 5.5% to 162 rupees, highest since May 18, 2022
    ** Polyvinyl chloride (PVC)-based products maker posts
March-qtr consolidated net profit of 214.9 mln rupees ($2.63
mln) vs loss of 33.2 mln rupees a year earlier, aided by lower
input costs
    ** Co's consolidated revenue from operations at 2.37 bln
rupees
    ** Stock on track for sixth straight session of gains
    ** Stock trading above 50-, 100-, and 200-day moving
averages, suggesting bullish momentum
    ** Trading volume at ~400,000 shares as of 1:20 p.m. IST,
~5x the 30-day avg  
    ** Up to last close, stock up 31% so far this year



($1 = 81.7650 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))