India's Greaves Cotton up on e-bike unit's strong Q1 sales

Greaves Cotton

11/07/2023 08:02

** Greaves Cotton's shares  GRVL.NS  rise as much as 4.2% to
140.15 rupees in their sharpest intraday pct gain since June 5
    ** The engineering firm's e-mobility unit clocks over
200,000 secondary sales of "Ampere" electric 2-wheelers in Q1
    ** Stock continues trading above its 100-day moving average;
hits its highest since June 23
    ** More than ~2.6 mln shares change hands by 12:14 p.m. IST,
1.4x the 30-day avg of ~1.8 mln shares
    ** All of the four analysts covering the stock have a "buy"
or higher rating; median PT is 191 rupees - Refinitiv data
    ** Stock down 4.1% so far this year, up to last close


 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))