** 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)