India's Fine Organic Industries rises 14% on profit jump

Fine Organic Industries

11/11/2022 07:20

** Shares of chemical manufacturing company Fine Organic
Industries Ltd  FINO.NS  rise as much as 13.7% to 6,750 rupees,
their biggest intraday pct gain since Aug. 10
    ** Co on Thursday reported a 306.3% jump in Sept. qtr net
profit to 2.03 billion Indian rupees ($25.13 million), compared
with 498.7 million rupees a year ago
    ** Revenue from operations more than doubled to 9.19 billion
rupees
    ** Stock hit its highest since Oct. 27
    ** More than 246,399 shares change hands by 0713 GMT vs
30-day avg of 77,278 shares
    ** Three of the 10 analysts covering the stock have a "buy"
rating, four have "hold," while three rate it at "strong sell;"
median PT is 5,433.50 rupees - Refinitiv data
    ** Stock up 59.9% YTD up to last close
($1 = 80.7800 Indian rupees)
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))