India's Aditya Birla Fashion and Retail hits over 17-mth low

Aditya Birla Sun Life Amc

14/03/2023 09:40

** Shares of Aditya Birla Fashion and Retail Ltd  ADIA.NS  
fall as much as 4.76% to 216.95 rupees, post sharpest intraday
pct loss since Feb. 22
    ** Stock of the fashion and lifestyle co hits lowest level
since Sept. 23, 2021, on track for a fifth consecutive session
of loss
    ** More than 4 mln shares change hands by 2:58 p.m. IST,
1.6x the 30-day avg; most active trading session since Feb. 22
    ** Relative Strength Index (RSI) falls below 30, suggesting
stock is oversold
    ** Moving Average Convergence Divergence (MACD) line below
signal line over last 12 sessions, indicating bearish bias
    ** Stock down 20.8% this year as of last close; was up ~5.6%
in 2022
    ** Aditya Birla Group's Aditya Birla Sun Life AMC Ltd
 ADIE.NS  hit a record low today

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))