Huhtamaki India hits over 2-year high after Q2 profit surges

Huhtamaki Oyj

18/10/2023 05:58

** Shares of Huhtamaki India  HUHT.NS  rise as much as 14.1%
to 323.7 rupees, highest since Aug. 4, 2021
    ** HUHT sees most active trading session since March 16,
2022
    ** Co reported rise in profit to 322.7 mln rupees ($3.88
million) from 400,000 rupees a year ago, helped by an 18% slide
in total expenses
    ** Sale of products dropped 14.5% 
    ** Co says approved closure of label manufacturing sites at
Sikkim, Daman and Hyderabad
    ** Stock sees steepest intraday gain since Dec. 22
    ** More than 2 mln shares change hands by 09:50 IST, 22.4x
30-day avg of 89,735 shares
    ** Stock up 10.6%, bumping YTD gains to 53%



($1 = 83.2275 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))