India's Nelcast hits over 9-month high as profit jumps

Nelcast

03/11/2022 05:48

** Shares of iron castings company Nelcast Ltd  NLCA.NS 
rise as much as 12.4% to 94.70 rupees, their highest since Jan.
18
    ** Biggest intraday pct change since July 4
    ** Co more than tripled its consolidated profit of 121.5 mln
Indian rupees ($1.47 million) for the Sept. qtr from a year
earlier, helped by increased sales volume and decrease in raw
material costs
    ** Revenue from operations grew by ~37% to 3.29 billion
rupees, helped by growth in commercial vehicle segment, the
company said
    ** More than 1.3 mln shares change hands by 0538 GMT vs
30-day avg of 160,312 shares
    ** Up to last close, stock up 4.3% so far this year vs S&P
BSE SmallCap Index's  .SPBSSIP  1.7% fall
($1 = 82.7590 Indian rupees)
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))