India's Finolex Cables sinks 6% on muted quarterly results

Finolex Cables

09/02/2024 09:10

** Shares of Finolex Cables  FNXC.NS  fall 6% to 1,068.7
rupees, headed for worst day since Sept-end
    ** Stock was down 3.5% before results
    ** FNXC's consolidated net profit for Oct-Dec qtr falls 2%
as expenses rise faster than revenue
    ** Stock looks set to snap 4-day wining run
    ** Seven analysts covering FNXC rate it "buy" on avg; median
PT is 1,165 rupees - LSEG data
    ** Stock erases all YTD gains


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))