India's Sunflag Iron and Steel rises on Q3 profit jump

Sunflag Iron and Steel

08/02/2023 05:18

** Shares of Sunflag Iron and Steel Co Ltd  SFLG.NS  rise as
much as 5.33% at 132.40 rupees
    ** Co sees best day in a week
    ** Special steel rolled products manufacturer said Q3 consol
total PAT rose 40% to 596.6 mln rupees ($7.16 million)
    ** Consol rev from ops increased to 8.69 bln rupees from
6.96 bln rupees a year earlier
    ** Co's shares trading above 50-day, 100-day and 200-day
moving averages, indicating bullish momentum
    ** Stock rose ~62% in 2022 in third consecutive annual gain 
($1 = 82.6150 Indian rupees)
 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com; +91 9830427878))