India's Symphony hits over 3-yr high on buyback approval, Q1 profit surge

Symphony

06/08/2024 09:31

** Shares of Symphony  SYMP.NS  surge 20% to 1,476.05
rupees, hitting their highest since early March 2021
    ** Air cooler maker posts over three-fold jump in Q1 profit
and approves up to 714 mln rupees ($8.5 mln) share buyback
    ** Trading vol of over 2.5 mln shares makes it stock's
busiest session since 2021 listing
    ** Avg rating of seven analysts on SYMP is equivalent of
"hold"; median PT is 1,084 rupees -LSEG data
    ** Stock up ~69% YTD, roughly double the increase in rivals
Crompton Greaves  CROP.NS  and Havells India  HVEL.NS 
 
 ($1 = 83.9130 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))