India's Sat Industries jumps most in over 1 month on unit stake sale

Aeroflex Enterprises

14/06/2023 05:26

** Shares of Sat Industries Ltd  STIN.NS  rise as much as
10.3% to 80 rupees, their biggest intraday pct gain since May 9
    ** STIN, a company engaged in several businesses like
manufacturing, leasing and finance, says it sold 3.6% stake held
in its unit Aeroflex Industries Ltd  AERO.NS  for 355.8 mln
rupees ($4.32 mln)
    ** If trend holds, stock on track to advance for a second
consecutive session
    ** STIN stock trading above its 50- and 100-day exponential
moving averages since May 12
    ** About 179,105 shares change hands, vs 30-day avg of
562,967 shares - Refinitiv Data
    ** Stock up 11.3%, YTD  


     ($1 = 82.2930 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))