India's Shakti Pumps surges on Q3 profit jump

Shakti Pumps (India)

29/01/2024 04:55

** Shares of Shakti Pumps India  SHPU.NS  up 20% hitting a
record high to 1,271 rupees
    ** Pump maker on Thursday reported a more than four-fold
surge in Dec qtr consolidated profit; rev from ops up 57.7%
    ** India's markets were closed on Friday for a holiday.
    ** Stock sees busiest day since Oct. 31; posts biggest
intraday pct gain since Oct. 19 
    ** SHPU on track for a second consecutive month of gains, if
trends hold; up 24.2% for the month so far
    ** Stock trading above its 100-day moving avg since April 
    ** Stock was up 150.6% in 2023

($1 = 83.1400 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))