Shares of Jain Irrigation rose to 9-month highs

Shares of Jain Irrigation Ltd., a mid-sized agricultural implements company, rose to 9-month highs after it reported a modest rise in quarterly income on the back of higher sales.

Jain Irrigation said its first quarter profit jumped 28 percent to 20.4 crore rupees compared with 16 crore rupees in the same quarter a year ago. Sales rose 8 percent to 1,092.5 crore rupees during April-June compared with 1,013 crore rupees in the year ago period.

Jain Irrigation rose 1.80 rupees, or 2.4 percent, to 77.40 rupees, its highest since December 12 on the National Stock Exchange, where 41 lakh shares were traded compared with 5-day average of 27 lakhs.

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