India's VST Industries jumps as June-qtr profit improves

VST Industries

04/08/2020 07:33

** Shares of cigarette maker  VSTI.NS  rise as much as 12.8%
to 3,649.95 rupees, their biggest intraday pct gain since July
29, 2019
    ** Company on Monday reported slightly higher June-qtr
profit  urn:newsml:reuters.com:*:nFWN2F50OF
    ** VST benefited from negligible supply of local contraband
cigarettes and gross margin expansion - Centrum Institutional
Research 
    ** Brokerage adds slowing market condition could unfold big
opportunity for VST as its major portfolio is skewed towards
lower-priced cigarettes 
    ** VST shares down 23.21% so far this year, as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))