India's Sterlite Technologies rises after logging profit in Q1

Sterlite Technologies

27/07/2023 10:22

** Shares of Sterlite Technologies  STTE.NS  rise as much as
5.55% to 156.80 rupees
    ** Co posts June-quarter profit versus a loss a year ago
 urn:newsml:reuters.com:*:nFWN39D0TB
    ** Rev from ops rises 2.4%, EBITDA up 42% while total
expenses slide 1.4%
    ** STTE is aiming to increase its revenue 7-9% while
targeting a net debt to EBITDA ratio of less than 2.5 in FY
2024, MD Ankit Agarwal says 
    ** More than 6.1 mln shares change hands by 2:38 p.m. IST,
7.2x 30-day avg
    ** All three analysts covering stock have a "buy" rating;
median PT is 211 rupees - Refinitiv data
    ** Stock down ~14% YTD



($1 = 81.9224 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))