India's Hind Rectifiers hits upper circuit on Feb orders

Hirect

03/03/2022 06:30

** Shares of Indian power equipment manufacturer  HRCT.NS 
gain as much as 5% to hit upper circuit at 189.25 rupees 
    ** HRCT said on Wednesday it secured orders of 573.2 mln
rupees ($7.57 mln) in February  urn:newsml:reuters.com:*:nFWN2V50XX
    ** HRCT makes products such as rectifiers, transformers,
inverters and power semiconductor devices
    ** Last month, co posted https://bit.ly/3ID3TVG a 4.8% rise
in Dec-qtr net profit after tax to 13.1 mln rupees, while rev
from ops rose 16.3% to 941.9 mln rupees        
    ** HRCT stock down 23.7% YTD, as of last close, after rising
 55.9% in 2021
    
    ($1 = 75.6750 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))