India's VRL Logistics hits three-week high on profit surge

VRL Logistics

02/11/2021 04:31

** Shares of parcel delivery service provider  VRLL.NS  rise
as much as 13.1% to 429.2 rupees, highest since Oct. 11
    ** VRLL on Monday reported https://www.bseindia.com/xml-data/corpfiling/AttachLive/c10c60af-7ea1-40b3-b65a-8c0aeeb44e02.pdf
 a 60% jump in second-quarter profit, on a 45% rise in revenue 
    ** Revenue from its main goods transport business climbed
40%
    ** VRLL says https://www.bseindia.com/xml-data/corpfiling/AttachLive/f19810c9-9518-4e17-86f1-259db1c887be.pdf
 overall demand picked up in Q2, business growth back to
pre-pandemic levels
    ** Stock marks sharpest intraday pct gain since Sept. 22,
set for highest close since mid-May 2018
    ** More than 870,000 shares change hands within first hour
of trade, vs 30-day avg of 346,300 shares
    ** All 10 analysts covering the stock rate it "buy" or
"strong buy"; median PT is 381 rupees - Refinitiv data
    ** Stock up 87% YTD up to last close

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))