India's Munjal Showa rises most in 1-1/2 months on Dec-quarter profit surge

Munjal Showa

10/02/2023 08:51

** Shares of auto ancillary manufacturer Munjal Showa Ltd
 MNJL.NS  rise as much as 5.4% to 98 rupees, their biggest
intraday pct gain since Dec 30, 2022
    ** Co reported a 223.6% rise in Dec-qtr profit to 31.3 mln
rupees ($379,840.54), boosted by high sales as demand rebounded
in the auto industry
    ** Revenue from operations rose 15.6% to 3.08 bln rupees 
    ** Stock trading below its 50-day, 100-day, and 200-day
moving averages
    ** Trading volume at ~78,400 shares, 2.9x the 30-day avg of
~27,400 shares 
    ** Stock down 16.5% in 2022
    ($1 = 82.4030 Indian rupees)
 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))