Page Industries’ shares slipped over 10 percent in-trade after the investment Banking company, Credit Suisse downgraded the stock with an extensive target price (TP) cut following the company’s announcement of weak earnings results in the fourth quarter.
During Mid-morning trade, the stock slipped 10.6% to Rs19,617 per share on the NSE. The share price on Intra-day level declined a low of Rs 19,551.00. The stock of Page Industries hit 52-week low on NSE, today.
Meantime, the BSE Sensex traded at 39,661-level up 226 points and the Nifty at 11911-level, up by 67 points. At 11.25am
The investment Banking, Credit Suisse downgraded the stock to UNDERPERFORM from NEUTRAL with a TP cut to Rs18700 from Rs23221/share.
The Page Industries reported a decline in net profit by 20% to Rs74.98-Cr for the quarter ended March 2019. Meanwhile, sales declined 0.09% to Rs607.86-Cr in the March quarter.
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