Greenpanel Shares Slide Most Since March 2020 After Q1 Results
The stock is on track to snap a seven-session winning streak.
Shares of Greenpanel Industries Ltd. logged their steepest intraday decline since March 2020, even as analysts reiterated their 'buy' calls after the first quarter.
June Quarter FY23 Results (Consolidated, YoY)
Net profit at Rs 77.60 crore Vs Rs 29.74 crore.
Revenue at Rs 471.25 crore Vs Rs 309.00 crore.
Ebitda at Rs 131.54 crore Vs Rs 68.55 crore.
Ebitda margin at 27.91% Vs 22.18%.
Shares of the wood products maker slumped as much as 10% intraday before closing with 8.56% losses on Monday, and snapped a seven-session winning streak. The stock had risen 13% during the period.
The trading volume was five times the 30-day average, when markets closed.
All the eight analysts tracking the company suggest a 'buy', according to Bloomberg data. The average of the 12-month consensus price target implies a 33.8% upside.
