MM Forging hits record high on earnings

Reuters Market Eye - MM Forgings Ltd jumps by its daily limit of 20 percent to a record high of 283.65 rupees.

Posts highest ever quarterly revenue and profit in April-June.

Improvement in export volumes and currency depreciation are the main reasons for growth, analysts say.

MM Forging trades at 8.8 times 12-month forward earnings, vs rival Bharat Forge's 23.7 times.

(Reporting by Abhishek Vishnoi)