Indian manpower firm Aarvi Encon hits upper circuit after contract win

Aarvi Encon

27/12/2023 04:14

** Shares of Aarvi Encon  AARI.NS  up 20% to hit upper limit
of 164.4 rupees in early trade 
    ** Manpower supplier firm said its unit secures contract
worth 598.4 mln rupees (nearly $7 mln) 
    ** Contract to supply manpower services to undisclosed
engineering co in Indonesia 
    ** Co hits upper circuit for third time in 2023 
    ** Stock trades 5.1x the 30-day average  
    ** Including session's moves, co has lost 7.5% YTD - set to
snap a 3-year winning streak

($1 = 83.2275 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))