India's Suprajit Engineering hits record high on Q1 profit rise

Suprajit Engineering

16/08/2024 06:15

** Shares of Suprajit Engineering  SUPE.NS  rise as much as
10.4% to a record high of 595 rupees
    ** The auto component maker said Q1 consolidated net profit
rose 15%, rev from ops up 8% Y/Y
    ** Earnings aided by strong order wins in automotive
division
    ** More than 1.8 mln shares change hands, 6.7x its 30-day
avg
    ** Eight analysts covering the stock on avg have a "buy"
rating; median PT is 517 rupees - LSEG data
    ** Session's gains take yearly rise to 182%, on track for
best yearly gain since 2021


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))