Triveni Engineering hits 6-month high on Q1 profit jump, share buyback plan

Triveni Engineering and Industries

11/08/2020 07:06

** Shares of sugar manufacturer  TREI.NS  rise as much as
15.41% to 82 rupees, their highest since Feb. 17
    ** The Noida, Uttar Pradesh-based co reported a more than
two-fold jump in June quarter profit on Monday  urn:newsml:reuters.com:*:nFWN2FC0IE
    ** Co's sugar business performed well due to stable sugar
prices and higher sales, while ethanol sales also rose
    ** TREI also approved share buyback plan worth up to 650 mln
rupees ($8.68 mln)
    ** About 4.5 mln shares change hands, 7.3x its 30-DMA volume
of ~620,000 shares

    
($1 = 74.8600 Indian rupees)

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