Electronics Mart India rises on Q3 profit jump

Electronics Mart India

07/02/2024 09:28

** Shares of Electronics Mart India  ELEO.NS  up 4.1% at
228.50 rupees, pulling back from early gains of 8.5%
    ** Electronics retailer reports 2.1x jump in Q3 profit
jumping; while rev from ops grew ~21%
    ** Trading vol 3.4x the 30-day daily avg
    ** Mean rating of three analysts equivalent of "strong buy",
median PT is 195 rupees - LSEG data
    ** Stock rose ~48% in Dec qtr, its third straight quarterly
gains
    ** Rivals Crompton Greaves Consumer Electricals  CROP.NS 
edged up 0.3% in Dec qtr while V-Guard Industries  VGUA.NS  fell
4.9%

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))