India's Berger Paints rise after upbeat outlook, quarterly profit increase
BUZZ-India's Berger Paints rise after upbeat outlook, quarterly profit increase ** Shares of Berger Paints BRGR.NS up 1.53% at 553.55 rupees--logs fourth straight session of gains
** Net profit up 28.3% to 4.04 billion rupees ($42.46 million), 12% revenue rise to 35.84 billion rupees
** Demand outlook healthy on price hikes, festive demand, traction in premium segment -- Dolat Capital ("Accumulate", raises TP to 625 rupees from 550 rupees)
** Boost in near-term growth from less intense rains driving strong secondary sales -- Systematix ("Buy", raises TP to 645 rupees from 610 rupees)
** Comfortable with co's ability to outpace industry growth; mindful of competitor's capacity expansion, potential aggressive pricing from new entrants--Ambit ("Sell", raises TP to 532 rupees from 503 rupees)
** RSI at 70.17, stock enters "overbought" category after over two months, according to LSEG data
** YTD, stock up 21.16%
($1 = 95.1400 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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