India's Bikaji Foods extends post-earnings rally

Bikaji Foods International

07/11/2023 06:23

** Shares of Bikaji Foods International  BIKA.NS  up ~3%
after 4.13% gain on Monday post jump in Q2 profit
    ** The snacks food maker posts 47% profit growth, aided by
easing raw material costs
    ** JM Financial says results were "better than expected";
retains 'buy'
    ** Says improved profitability, receding capex intensity
should help cash generation over fiscal 2023-2026
    ** Stock seeing most active in two months
    ** Stock now up ~71% since its trading debut in mid-Nov 2022

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