India's S H Kelkar sinks to 22-mnth low on Q3 profit fall

S H Kelkar And

03/02/2023 05:19

Feb 3 (Reuters) -    ** Shares of fragrance and flavour
maker S H Kelkar and Co Ltd  SHKE.NS  fall as much as 17.76% to
115.10 rupees - their lowest since April 7, 2021 
    ** Co's Q3 consol net profit fell nearly 60% to 129.7 mln
rupees ($1.58 million)
    ** Consol rev from ops slid to 3.85 bln rupees from 3.99 bln
rupees
    ** Shares fall below 50-day and 100-day moving averages,
indicating bearish sentiment 
    ** More than 681,746 shares traded as of 10:16 a.m. IST, 5.1
times its 30-day moving average 
    ** Co sees heaviest trading day since Dec. 5, 2022
    ** Stock fell ~8% in 2022 after two consecutive years of
gaining 
($1 = 82.2425 Indian rupees)
 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com; +91 9830427878))