India's Nava rises as Q3 profit surges

Nava

03/02/2023 09:08

** Shares of Indian alloys manufacturer Nava Ltd  NAAL.NS 
rise as much as 4.7% to 243.85 rupees, their highest since Jan.
24
    ** Co reports 45% jump in Q3 net profit due to strong
performance in power segment and and a one-off exceptional gain
    ** However, revenue from operations falls by 7.4% due to
decline in ferro alloys segment
    ** Trade volume of more than 2 mln shares by 2 p.m. IST,
over 2x 30-day avg
    ** Stock last up 0.8% at 2:15 p.m. IST, cutting YTD loss to
4.5%
    ($1 = 82.2675 Indian rupees)
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))