India's Ram Ratna Wires climbs after Q1 profit jump

Ram Ratna Wires

05/08/2024 07:56

** Shares of Ram Ratna Wires Ltd  RAMR.NS  rise as much as
4.8% to 447.35 rupees 
    ** Copper wire maker reported a 47% rise in Q1 consol net
profit to 138.1 mln rupees, rev grew 23.1% y/y
    ** Adds, approved enhancement of investment in Bhiwadi plant
to 7 bln rupees and investment of 400 mln rupees for Silvassa
plant
    ** Stock on track to gain for 2nd straight day
    ** More than 260,000 shares traded as of 12:21 p.m. IST, 2x
their 30-day moving avg
    ** RAMR last up 1.5%, bringing YTD gains to 46.5%
    

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))