India's Hariom Pipe hits record high on Q2 profit jump

Hariom Pipe Industries

13/11/2023 06:53

** Shares of Hariom Pipe Industries  HARO.NS  rise as much
as 5.7% to hit a record high of 740 rupees
    ** The pipe and tubes maker on Friday reported a near 60%
Y/Y jump in Q2 net profit, while revenue more than doubled Y/Y
to 3.02 bln rupees ($36.25 mln) 
    ** During Q2, net production jumped 121% Y/Y while net sales
rose 134% Y/Y
    ** Stock on track for a third consecutive session of gain,
if trend holds
    ** More than 632,000 shares change hands, 4.9x of 30-day avg
    ** Hariom stock up ~97% YTD


    ($1 = 83.3200 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))