off-the-wire

BUZZ-India's Cholamandalam Investment hits over 4-month high on Q3 profit rise

Kitco Media
By Reuters
Published:
Updated:
Reuters

** Shares of Cholamandalam Investment and Finance Company jump as much as 8.81% to 769.20 rupees - highest level since Sept. 23, 2022
** Shares post biggest intraday pct rise in nearly 10 months
** The finance company's Q3 profit rose to 6.84 bln rupees ($83.61 million) from 5.24 bln rupees a year ago


** Q3 interest income for CHLA rose 30.43% to 31.42 bln rupees


** More than 1.77 mln shares traded as of 09.25 a.m. IST vs their 30-day moving avg 1.68 mln


** Twenty-two of 31 brokerages rate the stock "buy" or higher, 6 "hold" and 3 "sell" or lower; their median PT is 855 rupees - Refinitiv data


** Stock rose 5.2% last month, after four straight annual gains
($1 = 81.8070 Indian rupees) (Reporting by Hritam Mukherjee in Bengaluru)

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