India's Ganesh Housing hits 16-yr high on five-fold jump in Q3 profit

Ganesh Housing

17/01/2024 06:41

** Shares of Ganesh Housing Corp  GHFC.NS  rise as much as
10.3% to 498 rupees, highest since Jan. 8, 2008
    ** Stocks headed for biggest pct gain since July 18
    ** Real estate developer said on Wednesday its consolidated
net profit for Q3 surged nearly five-fold to 1 bln rupees ($12
million), rev from ops jumped nearly three-fold
    ** Stock has gained ~13% so far in Jan., on track for three
consecutive monthly gains, if trend holds
    ** More than 856,970 shares change hands, 11.2x its 30-day
avg; marks best volumes since Oct. 19
    ** Stock gained ~20% in 2023



($1 = 83.1200 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))