CIE Automotive India slides after Q4 earnings drop Q/Q

CIE Automotive India

20/02/2024 05:30

** Shares of CIE Automotive India  CIEA.NS  down 1.8% at 474.5 
rupees 
    ** Stock falls as much as 2.2% to day's low of 472.8 rupees
in early trading 
    ** Auto components supplier reported a 55% sequential drop
in Dec-qtr net profit 
    ** Revenue from operations fell 1.7% 
    ** Market slowdown in EU operations and drop in the U.S.
off-highway market hurt the performance, brokerage Motilal Oswal
    ** Stock on track for third consecutive week of losses, if
trend holds 
    ** More than 651,000 shares change hands by 10:57 a.m. IST,
1.5x its 30-day avg
    ** Stock inched up ~0.9% YTD 
    
    
    

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))