India's Lokesh Machines up on setting up new manufacturing division

Lokesh Machines

08/03/2023 05:07

** Shares of auto parts and machine tools maker Lokesh Machines Ltd  LOMA.NS  
rise as much as 5.5% to 118.5 rupees, marking their sharpest intraday pct gain
since Feb.16
    ** Stock of LOMA hits highest level since Feb. 21
    ** LOMA on Tuesday said it has set up a new division to manufacture defense
and aerospace components  urn:newsml:reuters.com:*:nFWN35F30M
    ** More than 76,000 shares change hands by 10:20 a.m. IST, 1.6x the 30-day
avg; most active trading session since Feb. 16
    ** Stock trading above 50-day, 100-day and 200-day simple moving averages 
    ** Stock up 4.4% as of 10:27 a.m. IST, was up ~31% in 2022

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com;))