India's Vedant Fashions up 2% as analysts see profit growth after Q4 results

Vedant Fashions

03/05/2023 08:26

** Shares of Vedant Fashions Ltd  VEDN.NS  rise as much as
2.31% to 1,278.75 rupees
    ** Several brokerages reiterate "buy" on apparel maker,
citing healthy March quarter results and potential rise in
profitability
    ** Co reported rise in Q4 consolidated net profit post
market hours on Friday; stock lost 1.75% on Tuesday  urn:newsml:reuters.com:*:nFWN36V2BN
    ** Rise in store additions, cost optimisation aided March
quarter numbers, says Motilal Oswal
    ** Strong margins, healthy return profile and expansion
focus to drive strong cash generation - Motilal
    ** Antique Stock Broking terms Q4 performance "decent",
while ICICI Securities cites impressive store sales growth 
    ** Trading volume at 94,618 shares as of 12:41 p.m. IST,
0.6x the 30-day avg - Refinitiv data
    ** Seven of nine analysts tracking VEDN maintain "buy", one
suggests "sell" and one recommends "hold"; median PT is 1,381
rupees - Refinitiv data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))