India's Metro Brands gains on Q4 profit jump
23/05/2024 05:19
** Shares of Metro Brands METB.NS rise as much as 4.9% to
1,198.9 rupees, highest since March 22
** Footwear retailer beats Q4 profit estimates and reports a
more than two-fold rise in profit on strong premium footwear
demand
** Rev from ops up 7% Y/Y
** Fifteen analysts covering the stock on avg have a "hold"
rating; median PT is 1,226 rupees - LSEG data
** Stock has gained 9% so far in May, vs a 0.4% and 0.5%
dip, respectively, in rivals Bata India BATA.NS and Relaxo
Footwear RLXO.NS
(Reporting by Ashna Teresa Britto in Bengaluru)
((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))