Amber Enterprises India hits record high on QIP issue

Amber Enterprises India

08/09/2020 08:16

** Shares of original equipment manufacturer for washing
machine and air conditioners  AMBE.NS  rise as much as 8.81% to
a record high of 1,999.90 rupees
    ** Co, which makes heating, ventilation coils for air
conditioners, on Monday approved raising of funds through
qualified institutional placement (QIP)  urn:newsml:reuters.com:*:nFWN2G40HF
    ** Co set a floor price of 1,798.72 rupees/share
    ** About 373,000 shares change hands, 2.7x 30-day avg of
140,200 shares
    ** Seven out of 12 analysts tracking the stock rate it at
"buy" or "strong buy", one "sell" and four "hold"; median price
target at 1,680 rupees - Refinitiv data
    ** AMBE shares up 64.5% this year, as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))