India's Aditya Birla Fashion falls after posting Q3 loss

Aditya Birla Fashion and Retail

15/02/2024 06:24

** Shares of Aditya Birla Fashion and Retail  ADIA.NS  fall
as much as 3.6% at 234.6 rupees, last down 1.9%  
    ** Owner of Peter England formal wear brand on Wednesday
reported 778.7 mln rupees ($9.4 mln) consol loss for Dec-quarter
vs profit of 157.9 mln rupees a year ago
    ** Co also said it will issue non-cumulative,
non-convertible redeemable preference shares worth up to 12 mln
rupees on private placement basis 
    ** Stock set for biggest weekly fall since Oct. 27, down
5.5% so far this week
    ** Trading vol is 1.2x the 30-day daily avg
    ** As per LSEG data, avg rating of 20 analysts covering ADIA
is "hold"; median PT is 225 rupees, ~6% lower than current price
    ** Stock fell 22.2% in 2023 after posting annual gains for
two consecutive years  





($1 = 82.9975 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))