India's FDC hits record high as Q1 profit jumps 55%

FDC

10/08/2023 05:36

** Shares of FDC Ltd  FDC.NS  rise as much as 10.2% to a
record high of 429 rupees    
    ** Co on Wednesday reported its consolidated net profit
jumped 55.3% to 1.1 bln rupees ($13.28 mln), rev from ops up
8.3% Y/Y
    ** Adds, approved acquisition of additional 7% stake in unit
FDC SA; also approved buyback for up to 3.1 mln shares at
500 rupees apiece
    ** More than 2.4 mln shares change hands by 09:55 a.m. IST
vs 3.8x 30-day avg of 639,891 shares
    ** Analysts covering the stock on average have a "strong
buy" rating; median PT is 350 rupees - Refinitiv data
    ** Stock up 43.7% YTD up to last close



($1 = 82.8200 Indian rupees)

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