RHI Magnesita India set for best day in 2-1/2 months on quarterly profit rise
16/08/2024 07:13
** Shares of refractory products maker RHI Magnesita India RHIM.NS rise as
much as 12.9% to 668.4 rupees, marking sharpest intraday climb since May 30
** Stock sees heaviest trading volumes since Nov. 23, 2022 with over 4.3 mln
shares changing hands, 17.6x the 30-day avg
** RHIM on Wednesday reported 36.7% rise in June-quarter profit to 816.4
million rupees ($9.7 million)
** Revenue from operations rose to 7.01 billion rupees from 6.77 billion
rupees a year ago
** Stock last up 12.3%, cutting YTD losses to 17.9%
($1 = 83.9510 Indian rupees)
(Reporting by Anisha Ajith in Bengaluru)
((anisha.ajith@thomsonreuters.com;))