India's CESC closes lower after Q4 core profit falls

CESC

22/05/2023 11:17

** Shares of CESC Ltd  CESC.NS  turn negative, close down 2%
at 70.25 rupees after quarterly results
    ** Co's Q4 core profit more than halves to 1.09 bln rupees
($13.3 mln) as rise in expenses outpace revenue growth
    ** Stock logs worst day since April 28; falls below 100-day
exponential moving average (EMA) of 71.32 rupees, but finds
support at near 50-day EMA of 69.86 rupees
    ** Around 6.8 mln shares change hands through the day, 2.8x
their 30-day avg volume
    ** Fifteen analysts rate stock 'buy' higher, one 'hold;'
median PT is 100 rupees - Refinitiv data
    ** Stock extends YTD losses to over 8%


($1 = 81.7800 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))