India's Ador Welding hits near 20-wk high on Q3 profit jump

Ador Welding

06/02/2023 05:09

** Shares of Ador Welding Ltd  ADOR.NS  rise as much as 9.7%
to 913 rupees, their biggest intraday pct gain since Sept. 27,
2022
    ** The welding products maker on Friday reported quarterly
profit climbed nearly 55% to 163.6 million rupees ($1.98
million) 
        ** Revenue from operations for the December-quarter rose
about 14% to 1.99 billion rupees helped by high demand of its
consumable products such as wires and electrodes
    ** Shares hit highest since Nov. 7, 2022
    ** About 69,361 shares change hands by 10:26 a.m. IST vs
5.5x 30-day avg of 12,682 shares
    ** Stock down 1.8% so far this year, as of last close 
    ($1 = 82.4570 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))