India's LT Foods rises on Q4 profit jump
19/05/2023 05:25
** Shares of Daawat basmati rice seller LT Foods LTOL.NS
rise as much as 4.8% to 121.4 rupees, highest since Jan. 10
** Co reported on Thursday that its net profit jumped 79%
Y/Y on strong demand for packaged rice and robust export prices
** More than 2.2 mln shares change hands by 09:50 a.m. IST
vs 1.7x 30-day avg of 1.3 mln shares
** LTOL trading above its moving average convergence
divergence line, indicating bullish sentiment
** Analysts covering stock on average have "strong buy"
rating; median PT is 150 rupees - Refinitiv IBES data
($1 = 81.7800 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru)
((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))
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