India's Intellect Design up 9% on Q4 core profit growth

Intellect Design Arena

12/05/2023 06:19

** Shares of Intellect Design Arena Ltd  INEE.NS  rise as
much as 9.27% to 509.65 rupees, highest in over six months
    ** Software developer reports 10.5% Y/Y rise in earnings
before interest, taxes (EBIT) in March quarter
    ** Revenue from operations rise 21% Y/Y; net profit slides
5% Y/Y 
    ** Co also approves final dividend of 2.50 rupees per share,
subject to shareholders' approval
    ** Stock most active in over six months, with a trading
volume of 3.66 mln shares as of 10:42 a.m. IST, nearly 10 times
the 30-day avg - Refinitiv data
    ** The relative strength index of INEE is 80, suggesting the
stock may be overbought
    ** Of six analysts tracking INEE, three maintain "buy", one
recommends "sell" and two suggest "hold"; median TP is 506.50
rupees - Refinitiv data
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))