India's Mahindra CIE jumps 17% as quarterly profit soars

CIE Automotive India

26/04/2022 05:45

** Shares of auto components supplier  MAHN.NS  rise as much
as 17.14% to 233 rupees
    ** Stock to mark biggest pct jump since February 2021, if
gains hold
    ** Co on Monday reported profit of 1.61 bln rupees ($21.06
mln) for quarter ended March 31, 10x surge from a year ago due
to higher sales  urn:newsml:reuters.com:*:nFWN2WN16H
    ** Co said it passed on raw material price surge to
customers and all verticals are "showing good performance and
positive expectations"
    ** About 5.5 mln shares change hands, 11.3x 30-day avg
    ** Shares down 2.2% YTD after gaining 36.2% last year


($1 = 76.4640 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))