India's Carborundum Universal hits record high on Q4 profit surge

Carborundum Universal

09/05/2023 05:49

** Shares of Carborundum Universal Ltd  CRBR.NS  rise as
much as 6.5% to record high 1,185 rupees
    ** Chemical manufacturer on Monday said consolidated net
profit more than doubled to 1.37 bln rupees ($16.75 mln) for the
March-qtr
    ** Rev from ops at 12 bln rupees, jumped 38% YoY
    ** Also declared final dividend of 2 rupees per share
    ** About 317,581 shares change hands by 10:03 a.m. IST, 2.6x
the 30-day avg - Refinitiv Data
    ** If trends hold, stock on track to advance for second 
consecutive session
    ** Eight of the ten analysts covering CRBR have a "buy" or
higher rating, one has "hold" while one rate it at "sell";
median PT is 1,125 rupees
    ** Stock last up 4.4%, extending YTD gains to 32.5%


($1 = 81.7800 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))