RHI Magnesita India falls on Q2 profit plunge
08/11/2024 09:45
** Shares of RHI Magnesita India RHIM.NS fall as much as
6.4% to 556 rupees, hitting their lowest since late March; last
down 3.2%
** Refractory products maker reports a near 36% fall in
Sept-qtr consol net profit at 459.1 million rupees ($5.4
million) while rev from ops fell 12%
** Busiest session for the stock since mid Oct; more than
372,000 shares change hands, twice the 30-day avg
** Stock down ~29% so far this year
($1 = 84.3530 Indian rupees)
(Reporting by Dimpal Gulwani in Bengaluru)
((dimpal.gulwani@thomsonreuters.com))