India's Sona BLW Precision climbs most in 5-mths on Q2 profit rise

Transinvestment ADSITS

26/10/2023 05:21

** Shares of Sona BLW Precision Forgings  SONB.NS  rise as much as 5.3% to
539.95 rupees, it's sharpest intraday pct gain since May 31
    ** Precision forged gear maker on Wednesday reported a 34% rise in its
consolidated Q2 net profit to 1.24 billion rupees ($14.90 million)
    ** More than 2 mln shares change hands by 09:50 a.m. IST, 2x the 30-day avg
    ** SONB also approved investments in captive solar power plant; to
incorporate one or more special purpose vehicle (SPV)
    ** SONB will invest about 75 million rupees to acquire 26% share capital of 
SPV
    ** Stock gained 13.1% in the September qtr, last up 3.1%


($1 = 83.2300 Indian rupees)

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com;))