India's Sintex Plastics Technology up after Q3 profit

Sintex Plastics Technology

10/02/2023 08:28

** Shares of Sintex Plastics Technology Ltd  SINT.NS  rise
as much as 5.2% to 3.05 rupees, their highest since Jan. 24
    ** The water storage tanks maker on Friday reports Dec. qtr
net profit of 352.2 mln rupees ($4.27 million), against a loss
of 217.2 mln rupees a year earlier 
    ** Revenue from operations rose 5% to 2.48 bln rupees 
    ** SINT posts profit on the back of a 17% reduction in total
expenses
    ** Stock crossed 50-day(2.93 rupees) simple moving average 
    ** About 1.9 mln shares change hands by 1:28 p.m. IST vs
30-day avg of 2.1 mln shares
    ** Stock up 5.5% so far this year, as of last close 
($1 = 82.3900 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))