3M India falls after country's financial crime agency searches Bangalore offices

3M India

15/03/2024 09:45

** 'Post-it' notes maker 3M India  TMIN.NS  shares fall as
much as 2.4% to 29,400 rupees
    ** Co says ED, India's financial crime-fighting agency,
conducted a search under the Foreign Exchange Management Act,
1999 at its offices in Bangalore on March 14
    ** Stock on track to lose for the third straight day and 2nd
consecutive week 
    ** Stock trading below its 50-day simple moving avg since
Feb 9
    ** More than 13,400 shares traded as of 2:47 p.m. IST, 2.7x
their 30-day moving avg
    ** TMIN last down 1.7% adding to YTD loss of ~20.7%

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))