India's Piramal Enterprises down after Q1 profit slump

Piramal Enterprises

14/08/2024 05:21

** Shares of Piramal Enterprises  PIRA.NS  fall 7.3% to
913.7 rupees
    ** The non-banking financial co reported a 64% fall in
consolidated net profit, total rev from ops down 26% Y/Y
    ** Low interest earnings continue to weigh on net interest
margin, say analysts at Jefferies, while maintaining
"underperform" on stock
    ** More than 2.2 mln shares change hands, 1.3x its 30-day
avg
    ** Seven analysts covering the stock on avg have a "sell"
rating; median PT is 930 rupees - LSEG data
    ** Session's loss trims stock's yearly gains, now down 1% so
far this year

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