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Pidilite’s stock up 10% post weak Q2 results, will uptrend continue?


Pidilite Industries’ September quarter (second quarter or Q2) operational performance was almost in line with expectations with profit margin contracting amid inflationary pressures and consolidated net profit down 9 per cent year-on-year (YoY) at Rs 2.31 billion. Yet, the stock is up 10 per cent post results.So what explains this, and will the uptrend continue? One reason is that the stock had already fallen over 20 per cent from a peak level of Rs 1,195 in August on worries over rising oil prices, and consequently expectations of weak Q2 results. The profitability of …
Source: Business Standard