India's Amber Enterprises rises on forming JV to build smart devices

Amber Enterprises India

27/12/2023 06:52

** Amber Enterprises India  AMBE.NS  up 3.3% at 3,142 rupees
    ** AMBE said Tuesday it will form a 50-50 JV with Nexxbase
Marketing to assemble and make wearables, other smart devices
    ** Stock set for biggest 1-day jump since Dec. 15 when UBS
started coverage with "buy", citing a healthy demand outlook
    ** Avg rating of 18 analysts is close to equivalent of
"buy", median PT is 3,045 rupees - LSEG data
    ** Stock set for third straight quarter of gains, taking YTD
rise to 66%

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))