India's Heritage Foods rises after Q1 profit more than doubles

Heritage Foods

01/08/2023 07:42

** Shares of dairy products co Heritage Foods  HEFI.NS  rise
as much as 3.67% to 255.80 rupees
    ** HEFI's June-quarter profit more than doubles as higher
milk prices and sales boost revenue  urn:newsml:reuters.com:*:nL4N39H0Y7
    ** Co posts consolidated net profit of 167.4 mln rupees
($2.03 mln) vs 72.8 mln rupees a yr earlier, while total income
is up 12.5%
    ** Stock on track to snapping three consecutive sessions of
loss, if gains hold
    ** Share price above 50-day, 100-day and 200-day exponential
moving averages since Apr. 6, suggesting bullish trend
    ** More than 327,000 shares change hands by 11:55 a.m. IST,
0.9x the 30-day avg 
    ** Avg rating of three analysts equivalent to "strong buy",
median PT is 250 rupees - Refinitiv data
    ** Stock up 38.2% YTD



($1 = 82.2725 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))