IEX Shares Hit Upper Circuit After This Analyst's 'Buy' Call

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.

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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.

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