India's Clean Science gains on positive growth outlook after Q3 results

Clean Science and Technology

03/02/2023 05:45

** Shares of Clean Science and Technology  CLEA.NS  rise as
much as 3.91% to 1,539.90 rupees, a seven-week high
    ** The rise comes after the organic chemicals maker reported
nearly 45% rise in consolidated net profit, during market hours
on Thursday
    ** The stock closed with 7.7% gains in the previous session
    ** Q3 results were a positive surprise driven by receding
input costs, says Kotak Institutional Equities and sees positive
demand and growth outlook for the company
    ** The domestic brokerage firm upgrades the stock to "add" 
from "reduce"
    ** Demand outlook remains robust and plans to capture a
higher market share augur well, says Motilal Oswal, which
maintains a "neutral" rating on the stock
    ** Trading volume is 133,641 shares as of 11:07 a.m. IST,
3.2x the 30-day avg of 42,402 shares
    ** Of the nine analysts tracking the company, four maintain
"buy", three recommend "hold" and two suggest "sell"; median TP
is 1,650 rupees - Refinitiv data
    ($1 = 82.1300 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))