India's Vedant Fashion rises after Q3 profit jump

Vedant Fashions

25/01/2024 08:41

** Shares of Vedant Fashions  VEDN.NS  rise as much as 5.9%
to 1,135.45 rupees, their biggest intra day pct gain since May
2023
    ** Apparel maker posted a 5% rise in Dec-qtr consol profit
on higher sales
    ** VEDN also approved scheme of amalgamation of unit
Manyavar Creations into co
    ** Trading volume nearly twice the 30-day moving avg 
    ** Avg rating of nine analysts on VEDN at "buy"; median PT
is 1,400 rupees - LSEG data
    ** Stock trading ~24% below its median PT 
    ** VEDN fell 5.3% in Dec-qtr after rising for two straight
qtrs
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))