India's Eclerx Services hits record high after raising full-year margin forecast

eClerx Services

22/11/2023 09:38

** Shares of Eclerx Services  ECLE.NS  rise as much as 14.9%
to a record high of 2,685.7 rupees
    ** Critical business operations services provider raises its
full-year margin forecast from below 28% post Q1 to 28-32% post
Q2 results
    ** Co adds it expects to grow sequentially in Q3 on momentum
from Q2
    ** More than 933,000 shares traded by 2.46 p.m. IST, 7.3x
the 30-day avg
    ** Six of 7 brokerages rate the stock "buy" or higher, and 1
"hold;" their median PT is 2,330 rupees - LSEG data
    ** Stock currently up 13.6%, bringing YTD gains to 108%

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))