India's Nahar Industrial Enterprises rises after spinning unit closure

About this update from Nahar Industrial Enterprises Limited

** Shares of Nahar Industrial Enterprises Ltd NSE:NAHARINDUS rise as much as 6% to 117.59 rupees ** Co decided to close down spinning unit at Bhiwadi as it has become operationally non-viable, spiralling maintenance costs, erosion of competitive advantage, persistently unfavorable market dynamics prevailing in textile and spinning sector** Adds, spinning unit accounted for 15.6% of turnover for FY ended March 31, 2025, but contributed to 14.16 bln rupees ($158.8 mln) loss in same period** Stock on track to snap 2 days of losses** More than 11,000 shares traded as of 9:48 a.m. IST, nearly their 30-day moving avg of 15,087 shares** BHIE last up 4.1%, cutting YTD losses to 19%($1 = 89.1850 Indian rupees)

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