India's Lumax Industries rises on plans to set up new manufacturing unit

Lumax Industries

29/11/2022 09:46

** Shares of auto components co Lumax Industries  LUMA.NS 
rise as much as 4.54% to 2,020 rupees, their highest level since
Sept 28, 2018
    ** Stock marks sharpest intraday pct gain since Nov 28, on
track for a fourth consecutive session of gains
    ** Co on Monday said it will consider setting up of new
manufacturing unit in Chakan, Pune and funding options in a
board meeting on Dec 7
    ** More than 39,000 shares change hands, 1.5x 30-day avg of
26,240 shares
    ** One analyst covering the stock has a "buy" rating; median
PT is 1,764 rupees - Refinitiv data
    ** Stock up 62.51% YTD, as of last close
 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))