India's CMS Info Systems drops most in over 16 months on multiple block deals

Cms Info Systems

09/06/2023 09:44

** Shares of CMS Info Systems Ltd  CMSN.NS  fall as much as
9.3% to 296.45 rupees, their steepest pct slump since Jan, 2022
    ** Nearly 21.3 mln CMSN shares change hands in five blocks
at price range between 299.65 rupees and 305.65 rupees apiece,
as at 1:18 p.m. IST - Refinitiv Data
    ** If trends hold, stock on track to fall for second
consecutive session
    ** About 25.2 mln shares traded by 2:03 p.m. IST, 83.5x the
30-day avg - Refinitiv Data
    ** Moving Average Convergence Divergence line of stock falls
under signal line, suggesting bearish bias 
    ** All five analysts covering the stock have a "buy" or
higher rating; median PT is 420 rupees
    ** Stock last down 3.9%, cutting YTD gains to 0.4% 

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))