India's Tata Metaliks hits 7-month high on Q2 profit surge

Tata Metaliks

20/10/2020 05:59

** Shares of pig iron and duct pipe maker  TMET.NS  rise as
much as 7% to 598.40 rupees, their highest since March 5
    ** Kolkata-based co on Monday reported a near four-fold jump
in Q2 profit (https://bit.ly/35cjhWJ)
    ** Results were supported by a 4% growth in the pig iron
making division and a 12% drop in overall expenses 
    ** Nearly 263,500 shares change hands in early trade, 5.3x
the 30-day avg
    ** TMET shares down 8.7% this year, as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))