India's Sharda Motor slips on weak Q2 results

Banco Products (India)

13/11/2024 08:23

** Sharda Motor Industries  SHAD.NS  drops as much as 6% to
1,950.40 rupees, lowest since late June
    ** Auto parts maker reports ~2% drop in Q2 consol profit of
787 mln rupees ($9.3 mln); rev from ops down ~7%
    ** SHAD set for fourth straight session of losses
    ** Stock last down ~2%, trims YTD gains to ~54%; peers Banco
Products (India)  BNCO.NS  and Sansera Engineering  SASE.NS  up
~10% and ~43%, respectively

($1 = 84.4025 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))