India's Birla Corporation falls on Q1 profit decline

Birla

09/08/2024 10:57

** Shares of construction materials maker Birla Corporation
 BRLC.NS  fall as much as 5% to 1,354 rupees, lowest since June
4
    ** BRLC said consolidated net profit slumped 45% to 326.2
million rupees ($4 mln), rev from ops down 9% Y/Y hurt by weak
cement demand
    ** More than 409,000 shares change hands, 3.1x its 30-day
avg
    ** Avg rating of 14 brokerages is a "buy"; median PT is
1,872 rupees - LSEG data
    ** Stock down 5% so far this year

($1 = 83.9230 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))