India's Aditya Birla Fashion extends fall on weak Q1, brokerage downgrades

Aditya Birla Fashion and Retail

07/08/2023 09:14

** Shares of Aditya Birla Fashion and Retail  ADIA.NS ,
extend slide after weak Q1 results, fall as much as 8% to 192.95
rupees
    ** Owner of Peter England formal wear brand has lost ~10%
over last two sessions after reporting qtrly loss vs yr-ago
profit on weak sales at Pantaloons business
    ** Around 14.5 mln shares change hands by 1:39 p.m. IST.
4.3x their 30-day avg volume
    ** Multiple brokerages lower price targets; at least four
analysts downgrade stock rating, Refinitiv data shows
    ** Twenty two analysts covering the stock rate it "buy" on
avg; median PT is 220 rupees - Refinitiv data
    ** Stock down 30.6% YTD

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))