India's G M Breweries slides on Q2 profit fall

G M Breweries

10/10/2023 08:13

** Shares of G M Breweries  GMBR.NS  fall as much as 8.8% to
723.35 rupees, their biggest intraday pct loss since Jan. 7,
2022 
    ** Slide comes after co reports 1.4% fall in profit; total
expenses up 6.3%, dragged by higher excise duty and input costs 
    ** Stock was up earlier in the day, hitting a new 52-week
high
    ** About 570,000 shares change hands as of 12:36 p.m. IST,
vs 4.0x 30-day average of 141,747 shares
    ** Stock currently down 7.7%, trimming YTD gains to 17.2%


($1 = 83.2525 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))