India's Greaves Cotton rises most in over 5 months on Q2 profit

Greaves Cotton

15/11/2022 06:07

** Shares of auto engine and heavy equipment maker Greaves
Cotton  GRVL.NS  rise as much as 10.4% to 164.45 rupees, its
sharpest intraday gain since June 2
    ** Stock hits highest since Sept. 21
    ** Co on Monday reported Sept-quarter consolidated net
profit of 288.8 million Indian rupees ($3.55 million) against
loss of 232.9 million rupees a year ago
    ** Revenue from operations nearly doubled to 6.99 billion
rupees 
    ** More than 5.8 million shares change hands by 0552 GMT,
7.4x 30-day avg of 786,234 shares
    ** All four analysts covering the stock have a "buy" or
"strong buy" rating; median PT is 212.5 rupees - Refinitiv data
    ** Stock up 8% YTD up to last close
($1 = 81.3330 Indian rupees)
 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))