India's Phoenix Mills up after JV buyout deal, Q1 earnings growth

The Phoenix Mills

25/07/2025 06:12

** India's Phoenix Mills' shares PHOE.NS rise 5% to 1525 rupees

** Stock among top pct gainers on the Nifty Realty sub-index .NIFTYREAL, which is trading relatively flat

** Mall operator's deal to take full control of a JV set up with Canada's largest pension fund "overall positive" - Nomura

** Still, Nomura cuts TP to 1350 rupees from 1400 rupees, maintains "reduce" call on elevated valuations, expectations of weak retail consumption growth

** Separately, firm's Q1 consol net profit up 3.5% y/y, net sales rise 5.4%

** Stock rated "buy" an avg by 17 analysts, with median TP 1784 rupees - data compiled by LSEG

** Trading vols 1.4 mln shares vs 30-day avg of ~817k shares

** YTD stock down 6%

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))