India's PI Industries gains on Q1 profit rise

PI Industries

07/08/2024 06:28

** Shares of PI Industries  PIIL.NS  rise 3.5% to 4,414
rupees    
    ** Agricultural chemicals maker reported a 17% rise in Q1
consolidated profit, aided by a 13% fall in cost of materials
consumed
    ** Rev from ops up 8% Y/Y, backed by strong agro-chemical
demand
    ** Twenty-four analysts covering the stock on avg have a
"buy" rating; median PT is 4,280 rupees - LSEG data
    ** Stock up 25% so far this year vs a 21% gain in Nifty
MidCap 50 index  .NIMDCP50  


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))