India's SML Isuzu hits near 6-yr high after Q4 swings to profit

SML Mahindra

29/05/2023 10:12

** Shares of automaker SML Isuzu Ltd  SMLI.NS  rise as much
as 10.27% to 1,124.75 rupees, hitting highest level since Aug.
1, 2017
    ** Co in its Q4 results reported a profit of 267.9 mln
Indian rupees ($3.2 mln) vs loss of 114.2 mln rupees yr ago
    ** Co added, its rev from ops rose 70.4% YoY
    ** Share price above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** SMLI's relative strength index above 70, indicating it is
overbought
    ** More than 532,000 shares change hands by 2:35 p.m. IST,
11.9x 30-day avg of 44,760 shares
    ** Including session's gain, stock up 60.3% YTD


($1 = 82.6187 Indian rupees)

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