India's NGL Fine-Chem up 13% after Q4 profit jumps

Ngl Fine Chem

16/05/2023 05:22

** Shares of NGL Fine-Chem Ltd  NGLF.NS  rise as much as
13.05% to 1,743 rupees, hitting the highest level since Dec. 9
    ** Co on Monday reported 36% Y/Y jump in Q4 profit from
continuing operations while revenue from ops fell 12.1% 
    ** Pharma co also declared a final dividend of 1.75 rupees
per shr
    ** Share price above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** NGLF's relative strength index above 70, indicating it is
overbought 
    ** More than 12,000 shares change hands by 9:39 a.m. IST,
2.8x 30-day avg of 4,335 shares
    ** Including session's gains, stock up ~11% YTD

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