India's Greenpanel Industries down as Singapore arm to shut down

Greenpanel Industries

30/11/2022 05:16

** Shares of wood panels maker Greenpanel Industries
 GREP.NS  fall as much as 2.4% to 387.55 rupees, biggest
intraday pct loss since Nov. 21
    ** Co late on Tuesday approved the winding up of its
wholly-owned subsidiary Greenpanel Singapore Pte. Ltd, according
to an exchange filing
    * Board approved investments write-off to the extent of
impairment of the asset due to accumulated losses
    ** Eight of the nine analysts covering the stock have a
"buy" or higher rating, while one rates it at "hold"; median PT
is 590 rupees - Refinitiv data
    ** More than 305,000 shares change traded by 1038 IST, 0.9x
30-day avg
    **  Stock down 5.42% so far this year, up to last close
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))