CIE Automotive India hits record high on Q2 profit jump

CIE Automotive India

19/07/2023 05:15

** Shares of CIE Automotive India Ltd  CIEA.NS  rise as much
as 9.3% to an all-time high of 579.75 rupees
    ** Auto components supplier on Tuesday reported June-qtr
consolidated net profit rose ~60%, aided by sales growth in its
Indian and European markets
    ** Stock on track to snap four straight sessions of declines
    ** Stock trading above its 50-, 100-, and 200-day moving
averages since April 27, suggesting bullish bias 
    ** Trading volume at ~726,300 shares, slightly below 30-day
avg of ~731,200 shares as of 9:20 a.m. IST 
    ** Average rating of six analysts covering stock equivalent
to "buy"; median PT is 520 rupees - Refinitiv data
    ** Stock up ~2.65%, taking YTD gains to ~62%

($1 = 82.0850 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))