India's Shemaroo Entertainment up 10% on Q4 profit jump

Shemaroo Entertainment

10/05/2023 07:00

** Shares of Shemaroo Entertainment Ltd  SHEM.NS  rise 9.98%
to hit upper circuit of 130.05 rupees
    ** Stock marks sharpest intraday pct gain since Oct. 17,
2022; hits highest level since Feb. 9, 2023
    ** Co on Tuesday reported more than doubling of its Q4
profit Y/Y to 48.5 mln Indian rupees ($593,054.54) while its
revenue from ops rose 75.8% Y/Y
    ** Stock's moving average convergence divergence (MACD) line
above the signal line since May 4, indicating a bullish bias
    ** Stock is witnessing its most active trading session since
Jan. 20, 2023
    ** More than 123,000 shares change hands by 11:17 a.m. IST,
3.2x 30-day avg of 37,917 shares
    ** Including session's gains, stock trims YTD loss to ~23%
vs 34.1% rise in 2022



($1 = 81.7800 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))