India's Minda Corp hits 4-week low after reporting qtrly loss

Minda

16/07/2020 06:47

** Shares of auto component manufacturer Minda Corp Ltd
 MINC.NS  fell as much as 7.6% to 63.55 rupees to their lowest
since June 18
    ** Qtrly consol loss after tax came in at 3 mln rupees 
($39,859.16), compared to a profit of 419.2 mln rupees in the
same period a year ago, the company said https://www.bseindia.com/xml-data/corpfiling/AttachLive/67401b26-5b50-4f5d-9261-e4765f2a48ac.pdf
 on Wednesday
    ** Stock sees worst session since May 4 amid a 0.7% rise in
Indian equities
    ** Co took an impairment charge of 2.93 billion rupees
during the quarter as its German unit, Minda KTSN filed for
insolvency 
    ** Stock on track for its fifth straight session of losses
    ** Stock down 31.5% this year as of last close




($1 = 75.2650 Indian rupees)

 (Reporting by Chandini Monnappa in Bengaluru)
 ((Chandini.M@thomsonreuters.com; 910867497919;))