Abbott India rises on fourth-quarter profit growth

Abbott India

22/05/2023 07:16

** Shares of Abbott India Ltd  ABOT.NS  rise as much 3.06%
to 21,538.55 rupees, their biggest intraday pct gain in five
months 
    ** Stock gains as the drugmaker reported a 9.5% jump in its
fourth-quarter profit after market hours on Friday  urn:newsml:reuters.com:*:nL4N37F1OS
    ** Profit up at 2.31 bln rupees ($28.25 mln) in March
quarter from 2.11 bln rupees Y/Y
    ** Revenue rises 11.68% in fourth quarter
    ** Trading volume is 12,800 shares, 0.9x the 30-day avg -
Refinitiv data
    ** Of nine analysts tracking Abbott, five maintain "buy",
two suggest "sell" and two recommend "hold"; median TP is 22,510
rupees 
    

     ($1 = 81.7800 Indian rupees)
    
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))