India's Minda Corp up on Q2 rev, profit rise

Minda

03/11/2023 06:01

** Shares of India's Minda Corp  MINC.NS  up as much as
4.03% at 351 rupees, highest since Oct. 23  
    ** Automotive parts maker's consol rev from ops rises more
than 4% to 11.96 bln rupees ($143.66 million), while profit
after tax inched up 1.7% 
    ** Co's core profit margin also rose 18 bps to 11% in the
qtr 
    ** More than 1.7 mln shares changed hands by 11:23 a.m. IST,
1.4x 30-day avg 
    ** Mean recommendation of 5 analysts eyeing the stock is
equivalent to "buy"; median PT is 296 rupees - LSEG data
    ** Stock last up about 2%, taking YTD gains to ~68% 


($1 = 83.2550 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))