India's Greenpanel Industries slides on disruptions from Cyclone Michaung

Greenpanel Industries

06/12/2023 05:43

** Shares of Greenpanel Industries  GREP.NS  down as much as
3.6% to 335 rupees, their lowest since Nov. 23 
    ** Stock posts sharpest intraday pct loss since Nov. 2 
    ** Wood panels manufacturer said its operations at Chittor,
Andhra Pradesh plant have been disrupted since Dec. 4 by Cyclone
Michaung
    ** Adequate steps are being taken to ensure resumption of
operations, co adds 
    ** Cyclone Michaung hit India's southern coast, resulting
into storms and flooding that killed at least 13 people 
    ** Analysts' average rating for stock is equivalent of
"buy", their median PT is 420 rupees - LSEG data
    ** Stock last down 1.4%, trimming YTD gains to ~1.5% 

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