April 20, 2018 / 4:26 AM / a month ago

BUZZ-India's Mahindra CIE Automotive gains on strong Q4 profit

** Mahindra CIE Automotive shares rise as much as 7.6 pct to 249.8 rupees, highest since Jan 16

** Q4 profit more than doubles to 385.7 mln rupees ($5.84 mln), helped by a rise in production

** Revenue from ops surges nearly 19 pct

** 808,800 shares changed hands as of 0417 GMT, more than thrice the average 30-day trading volume

** All 10 brokerages rate the stock “buy” or higher; their median PT is 288.50 rupees

** Up to Thursday’s close, stock had fallen 10 pct in the past year ($1 = 66.0425 Indian rupees)

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