India's MTAR Technologies drops on quarterly profit slump

MTAR Technologies

29/05/2024 05:39

** Shares of MTAR Technologies  MTAR.NS  fall as much as 16%
to 1,730 rupees, hitting their lowest level since early April
    ** Precision engineering co reports a near 85% year-on-year
drop in consol Q4 profit, rev down 27% 
    ** Stock last down 8.5%, set for its worst day since Feb. 14
when it tumbled on Q3 profit drop   
    ** More than one mln shares traded by 10:00 a.m. IST, nearly
4x their 30-day avg
    ** Stock down about 15% YTD 

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))