India's R R Kabel falls after tax dept search

R R Kabel

30/11/2023 05:20

** Shares of R R Kabel  RRKA.NS  fall as much as 5.5% to
1554.6 rupees, their lowest level since Nov. 8
    ** Stock last down 2%, sees sixth straight day of losses,
having lost 10% during the course
    ** India's tax department conducts search on some of the
consumer electrical company's premises
    ** Avg recommendation of 5 analysts covering co is "BUY;"
their median PT is 1,750 rupees - LSEG data
    ** Stock, which went public in September, is up 37% so far
from its listing price

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))