CCL Products (India) down on profit hit from Vietnam unit challenge

CCL Products (India)

28/08/2023 07:58

** Shares of CCL Products (India)  CCLP.NS  down as much as
3.53% at 585.55 rupees, lowest since May 9 
    ** Coffee producer posts steepest intraday pct slide since
July 18
    ** CCLP on Friday flagged equipment breakdown at Vietnam
unit, Ngon Coffee Company Ltd 
    ** There will be production interruption during the qtr,
likely to impact 6-10% of normal net profit on consol basis -
CCLP
    ** More than 218,337 shares changed hands by 12:26 P.M. IST,
0.9x 30-day avg  
    ** Mean recommendation of 10 analysts eyeing the stock is
"buy", median TP 675 rupees - Refinitiv IBES data 
    ** YTD stock had risen ~12%

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))