India's Sharda Motor Industries jumps on qtrly profit rise

Sharda Motor Industries

15/11/2022 05:44

** Shares of Sharda Motor Industries Ltd  SHAD.NS  rise as
much as 9.5% to 858.9 rupees, their biggest intraday pct gain
since Sept 7
    ** Co gains for three consecutive sessions
    ** The manufacturer of auto components such as suspensions,
silencers and exhaust pipes on Monday reported a 31% increase in
profit of 546.7 million rupees ($6.72 million) for the quarter
ended Sept 30  urn:newsml:reuters.com:*:nFWN32A4ZD
    ** Revenue from operations for the Sept-qtr rose 18.9% to
6.98 billion rupees
    ** SHAD also named Puru Aggarwal as the chief financial
offer of the company
    ** About 84,700 shares change hands by 0535 GMT vs 30-day
avg of 14,367 shares
    ** Stock down 11.2% so far this year, as of last close 
($1 = 81.3480 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))