India's Autoline Industries falls nearly 11% after swinging to loss in Q4

Autoline Industries

19/05/2023 09:35

** Shares of auto component maker Autoline Industries Ltd
 AUIN.NS  fall as much as 10.6% to 64 rupees, mark sharpest
intraday pct loss since Nov. 21, 2022
    ** Co reports Q4 consolidated net loss of 56.1 mln rupees
($685,986.79) vs profit of 93.6 mln rupees yr ago while revenue
fell ~21% YoY
    ** Share price below 50-day, 100-day and 200-day simple
moving averages, suggesting bearish trend
    ** Stock's moving average convergence divergence (MACD) line
below signal line since May 8, indicating a bearish bias
    ** More than 209,000 shares change hands by 1:54 p.m. IST,
4.6x 30-day avg
    ** Including session's loss, stock down ~16.9% YTD



($1 = 81.7800 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))