India's CCL Products hits over 1-year low after Q4 profit drops

CCL Products (India)

13/05/2024 09:28

** Shares of CCL Products  CCLP.NS  fall as much as 3.4% to
556.7 rupees, their lowest since April 21, 2023
    ** The food processing co reported a 23.5% drop in its
March-qtr consolidated net profit as total expenses surge
    ** CCLP stock set for a third consecutive session of falls,
if losses hold
    ** More than 148,000 shares change hands, 1x its 30-day avg
    ** Eleven analysts covering the stock on avg have a "buy"
rating; median PT is 720 rupees - LSEG data
    ** Stock fell 9% in March qtr, marking its third consecutive
quarterly drop 


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