India's Syngene International hits record high as Q1 profit jumps

Syngene International

27/07/2023 06:19

** Shares of Syngene International  SYNN.NS  rise as much as
6.7% to a record high of 813 rupees
    ** Co on Wednesday reported June-qtr profit of 753 mln
rupees ($9.18 million) versus profit 732 mln rupees year ago
    ** Rev from ops rose 11% to 7.16 bln rupees during the qtr
    ** More than 2.5 mln shares change hands by 10:40 a.m. IST
vs 5.2x 30-day avg of 478,994 shares
    ** SYNN trading above its moving average convergence
divergence line (MACD), indicating bullish sentiment
    ** Analysts covering the stock on average have a "strong
buy" rating; median PT is 750 rupees - Refinitiv data
    ** Stock up 30.3% YTD up to last close



($1 = 81.9975 Indian rupees)

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