India's Gokaldas Exports slides on profit fall, sluggish outlook

Gokaldas Exports

08/08/2023 08:29

** Shares of Gokaldas Exports Ltd  GOKL.NS  fall as much as
5.1% to 482.05 rupees, biggest intraday pct. loss since May 26
    ** Apparel manufacturer on Monday said consolidated Q1
profit fell 17.4%; revenue from operations down 15.7%
    ** Continue to anticipate sluggish demand for H1FY24, with
momentum picking up subsequently - GOKL in a statement
    ** Trading volume at ~528,800 shares as of 12:35 p.m. IST,
2.3x the 30-day avg of ~233,200 shares 
    ** Average rating of seven analysts equivalent to 'buy';
median PT is 585 rupees - Refinitiv data
    ** Stock up ~37% so far this year



($1 = 82.7610 Indian rupees)

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))