CIE Automotive India down on Q2 profit drop

CIE Automotive India

19/07/2024 08:23

** Shares of CIE Automotive India  CIEA.NS  down 3.7% to
584.5 rupees
    ** Co's consolidated net profit fell 28.1% YoY
    ** Stock on track for worst day since March 13
    ** CIEA rated "strong buy" on avg, rival Samvardhana
Motherson International  SAMD.NS  rated "buy" - LSEG data
    ** CIEA stock up ~24% YTD, SAMD up ~91%

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))