India's Aaron Industries rises on production capacity expansion

AARON INDUSTRIES

01/03/2024 09:46

** Shares of Aaron Industries  AARN.NS  up as much as 20% at
301.9 rupees
    ** Stock posts biggest intraday pct gain since September
2022; touches highest level since December 2023
    ** Elevator parts and elevator manufacturer buys machinery
from Italy-based Salvagnini to boost production capacity 
    ** AARN will be able to multiply its production capacity by
at least three times with this acquisition, co adds
    ** Stock on track for a second consecutive week of gains if
trends hold 
    ** AARN down 1.9% so far this year, vs a 63.5% gain in 2023

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))