3M India soars nearly 8% on September-quarter profit jump

3M India

09/11/2022 09:31

** Shares of electronic components maker 3M India  TMIN.NS 
rise as much as 7.9% to 24,163.80 rupees, their biggest pct gain
since June 28
    ** Co reports a consolidated profit rise at 1.06 bln rupees
Y/Y from 642.2 mln rupees, as transportation and electronic
segment lead growth at nearly 28%, versus a year ago
    ** Co's quarterly revenue from operations rise 16.3% to 9.77
bln rupees
    ** TMIN board approves interim special dividend at 850
rupees per share of 10 rupees each as on record date Nov. 22
    ** Stock set to snap three sessions of losses
    ** More than 20,000 shares traded, 5.5x times their 30-day
moving avg of 3,683
    ** Median PT is 26,500 rupees - Refinitiv data
    **  Stock down 11.67% so far this year, up to last close
($1 = 81.3250 Indian rupees)
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))