Shares of Navin Fluorine International Ltd. jumped the most in 16 months after the company's revenue rose and margin expanded in the first quarter.
Net profit up 34% at Rs 97.38 crore
Revenue up 22% at Rs 397.52 crore
Ebitda at Rs 99.13 crore vs Rs 77.78 crore
Ebitda margin at 24.94% against 23.82%
Shares of the chemicals maker jumped more than 12% in intraday trade, before closing with 11.1% gains—the most since March 30, 2021. The trading volume was more than 21 times the 30-day average.
The stock has moved above the 200-day simple moving average, indicating potential upward price momentum. Of the 24 analysts tracking the firm, 15 maintain a 'buy', seven suggest a 'hold' and two recommend a 'sell', according to Bloomberg data. The 12-month consensus price target implies an upside of -0.8%.
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