India's Finolex Industries up after Q1 profit rises

Finolex Industries

20/07/2023 07:54

** Shares of Finolex Industries  FINX.NS  up as much as 3% at
186.2 rupees
    ** Stock touches highest level since May 24, on track for a
second consecutive session of gains, if trends hold 
    ** Pipes maker reports 16.2% Y/Y rise in profit, while
revenue from ops slips nearly 1%  
    ** More than 1.3 mln shares traded by 12:17 p.m. IST, 1.3x
the 30-day avg - Refinitiv data
    ** Eight of the 13 analysts have "buy" or higher rating,
four "hold," one "sell;" median PT 204 rupees
    ** As of last close, stock down 3.4% YTD 

($1 = 82.0400 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))