IEX share price continued to recover for the third straight session as shares of the company climbed 10% to hit upper circuit at ₹150.20.
What Happened: Shares of the company that have slumped close to 40% have been seeing a strong recovery this week. The stock is up over 16% this week. The latest surge comes as global investment firm UBS maintained its ‘buy’ rating for the stock with a price target of ₹200.
See Also: Why Tata Steel Shares Are Down Today
The ‘buy’ call comes just days after the company posted its March business updates. The company witnessed a 12% month-over-month increase in volume in March at 9212 million units. “The company achieved 26052 MU volume across all segments during Q4 FY ’23, growing 7% over the previous
quarter,” the company added in a regulatory filing.
Price Action: IEX share price was up 10% to hit upper circuit at ₹150.20 on Thursday afternoon.
See Also: Tata Motors, Hero MotoCorp, and Other Automaker Stocks Accelerate After Strong March Sales
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.