India's Aditya Birla Fashion up after brokerage sees upside potential

Aditya Birla Fashion and Retail

19/06/2023 10:38

** Shares of Aditya Birla Fashion and Retail  ADIA.NS  rise
as much as 2.73% to 214.60 rupees
    ** Uptick comes after domestic brokerage Prabhudas Lilladher
identifies the fashion and lifestyle firm as technical pick with
a "buy" recommendation
    ** Sees scope for upside in ADIA share prices 
    ** Target price at 245 rupees; stop loss at 199 rupees
    ** Relative strength index of the stock is well placed and
signals much upside potential, says Vaishali Parekh, vice
president - technical research at Prabhudas Lilladher
    ** ADIA has not been in overbought zone since September
2022: Refinitiv data
    ** Of 23 analysts tracking ADIA, six maintain "strong buy",
eight suggest "buy", five retain "hold" and four recommend
"sell"; median TP is 220 rupees
    ** Stock down over 27% in 2023 so far compared to 4% rise in
Nifty 50 index  .NSEI 
    

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