Street View: Volume growth to power India's Finolex Industries earnings

Finolex Industries

21/07/2023 08:54

** Shares of Finolex Industries  FINX.NS  rise as much as
2.95% to a two-month high of 189.90 rupees
    ** Stock up 4% since the pipes maker reported a rise in
consolidated net profit in June quarter, post market hours on
Wednesday
    
    ROBUST VOLUMES TO DRIVE EARNINGS GROWTH
    ** Investec ("buy", PT: 245 rupees) sees multiple triggers
for growth including import quotas for PVC pipes, incremental
land sale; terms volume growth healthy
    ** Haitong International ("outperform", PT: 210 rupees) says
performance in pipe segment aided June quarter results; expects
strong volume growth in pipe segment and sees valuations as
reasonable
    ** Equirus Securities ("long", PT: 213 rupees) expects 7%
volume growth over fiscal 2023 to 2026 led by demand revival
    ** ICICI Securities ("buy", PT: raises to 230 rupees from
210 rupees) sees profitability in pipe segment to remain stable
on strong volume growth, expects resin segment performance to
improve

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))