India's IFB Industries falls on swing to loss in June quarter

IFB Industries

31/07/2023 09:51

** Shares of engineering co IFB Industries  IFBI.NS  fall as
much as 3.33% to 832.60 rupees, sharpest intraday pct loss since
Mar. 29
    ** Co reports consolidated net loss of 6.2 mln rupees for
June-qtr vs profit of 19 mln rupees yr earlier
    ** Rev from ops rises 1.7% YoY, while total expenses are up
1.9% YoY
    ** More than 49,000 shares change hands by 2:07 p.m. IST, 1x
30-day avg 
    ** Two of the three analysts covering the stock have a "buy"
or "strong buy" rating while 1 has "hold"; median PT is 875
rupees - Refinitiv data
    ** Stock down 7.6% YTD


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