India's Orient Electric jumps after reporting Q2 profit

Orient Electric

03/11/2023 08:51

** Shares of India's Orient Electric  ONTE.NS  up as much as
nearly 6% at 229.90 rupees, highest since Sept. 21 
    ** Consumer durables maker posted profit of 184.5 mln
rupees, compared to loss of 2.8 mln rupees a year ago 
    ** Rev from ops climbed 11% to 5.67 bln rupees 
    ** Co shares set to snap 4-session losing streak 
    ** More than 1 mln shares changed hands by 2:10 p.m. IST, 
3.7x 30-day avg 
    ** Mean recommendation of 17 analysts is equivalent to
"buy", median TP is 250 rupees - LSEG data
    ** Stock last up 3.8%, trimming YTD losses to ~15%

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))