India's Finolex Industries rises on positive growth view

Finolex Industries

29/03/2023 07:28

** Shares of PVC pipes and resins manufacturer Finolex
Industries  FINX.NS  up as much as 2.87% to 170 rupees
    ** Analysts at Prabhudas Lilladher say favourable seasonal
conditions and PVC resin price changes will boost March quarter
growth in co's agri-pipe volumes
    ** Diversification of FINX's plumbing segment and expending
on IT for data management and data analytics will drive growth
in future - Prabhudas
    ** Analysts maintain "buy" on co with PT at 224 rupees
    ** Brokerages bullish with eight of 14 firms rate stock as
"buy", five rate it a "hold", and one recommends "sell"; their
median PT is 191.5 rupees 
    ** About 166,705 shares change hands as of 11:23 a.m. IST,
vs 0.4x 30-day average of 414,805 shares 
    ** Stock down 11.77% YTD as of last close, extending 8.26%
losses in 2022

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))