India's Rockingdeals Circular Economy rises on 1 bln-rupee investment plan

Rockingdeals Circular Economy

30/12/2024 06:35

** Rockingdeals Circular Economy  ROCI.NS  soars as much as
8.3% to 595 rupees
    ** Co, engaged in bulk trading of excess inventory, plans to
invest 1 bln rupees ($11.7 mln) over next 12 months to expand
across India and internationally
    ** Targets 5 bln rupees rev by FY27, with projected PAT
margins of 10%-15%
    ** Consol rev for year ended March 31, 2024 was at 495.6 mln
rupees
    ** Stock set to snap three straight months of losses
    ** ROCI moves above its 100-day SMA after the news
    ** More than 71,500 shares traded, 2x the 30-day avg
    ** ROCI last up 5%, extending YTD gains to ~67%
    
($1 = 85.4820 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))