India's Fiem Industries hits record high on bonus share issue plan

FIEM Industries

08/01/2024 04:57

** Shares of auto component maker Fiem Industries Ltd
 FIIN.NS  rise as much as 15.3% to a record high of 2,444 rupees
    ** Co says it will consider and recommend issuance of bonus
shares at meeting on Jan. 15
    ** Stock on track to rise for third straight month
    ** Stock trading above its 200-day simple moving average
since Nov 10, 2023
    ** More than 406,000 shares traded as of 10:20 a.m. IST,
5.9x their 30-day moving avg; busiest day since May 12, 2023
    ** Stock last up 11.5%, adding to monthly gains of ~12.5%;
FIIN gained ~21% in 2023

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))