Granules India slumps on Q1 profit fall

Granules India

10/08/2023 05:06

** Shares of paracetamol maker Granules India  GRAN.NS  down
as much as 5.01% to 306.25 rupees, their lowest since July 24
    ** Stock hits sharpest intraday pct loss since Jan 25, on
track for a second consecutive session of losses, if trend holds
    ** Co reported a 62.5% fall in Q1 profit on Wednesday to 479
mln rupees ($5.78 mln), as a cyber security incident
significantly disrupted operations
    ** All seven firms on the co rate stock a "buy" or above,
their median PT is 355 rupees
    ** About 1.8 mln shares change hands, 0.8x 30-day average of
2.2 mln shares 
    ** Stock up 1.13% YTD, as of last close

    ($1 = 82.8050 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))