India's Himatsingka Seide hits 15-month high on earnings boost

Himatsingka Seide

11/08/2023 06:44

** Shares of Himatsingka Seide  HMSD.NS  surge as much as
13.26% to a 15-month high of 140.95 rupees
    ** Stock rises after the textile firm posted consolidated
profit of 291.5 mln rupees in the June quarter, versus a loss of
547.3 mln rupees in the year-ago period 
    ** Revenue from operations rises ~1% to 6.82 bln rupees
    ** Improved capacity utilisation levels, softening raw
material costs and easing of energy costs aided June-quarter
performance: Himatsingka 
    ** Stock is most active in more than two months, with a
trading volume of 4.72 mln shares, seven times the 30-day avg -
Refinitiv data
    ** HMSD stock up 57.89% in 2023 versus a 7.44% gain in Nifty
50 Index  .NSEI 

    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))