Comments
Shares of Pidilite Industries Ltd rose as much as 3.3 per cent to Rs 794 as Q2 profit beats estimates.
The adhesives maker has posted a 9 per cent increase in September-quarter profit, beating analysts' expectations.
Pidilite's Q2 report beat our estimates by 18 per cent and 15 per cent on EBITDA and PAT, respectively, Credit Suisse analysts wrote in a note, maintaining “outperform” rating on the stock.
“While the consolidated topline was in line, the beat was largely driven by strong margin expansion,” Credit Suisse analysts said.
The stock posted biggest intraday percentage gain since September 29. The stock was up 30.3 per cent this year as of last close on Wednesday.
Eleven of 17 brokerages have rated the stock as “buy” or higher, 2 "hold” and 4 “sell” or lower; their median price target is Rs 846, according to Thomson Reuters Eikon data.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.