off-the-wire

BUZZ-India's Crompton Greaves tumbles to 26-mth low on Q3 profit fall

Kitco Media
By Reuters
Published:
Updated:
Reuters

** Shares of home and kitchen appliance maker Crompton Greaves Consumer Electricals Ltd down as much as 8.65% to 303.60 rupees - lowest since Dec 1, 2020


** Co posts sharpest intraday pct loss since March 23, 2020
** CROP on Thursday reported a 42.5% fall in Q3 consolidated net profit while consolidated revenue from operations rose 7.44%
** More than 1.61 mln shares traded as of 10:12 a.m. IST, 1.4 times their 30-day moving avg of 1.17 mln shares
** Thirty-five of 38 brokerages rate the stock "buy" or higher, 1 "hold", and 2 "sell" or lower; their median PT is 450 rupees - Refinitiv data


** CROP fell ~23% in 2022 after making three consecutive annual gains
($1 = 82.1540 Indian rupees) (Reporting by Hritam Mukherjee in Bengaluru)

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