India's DB Corp falls after Q3 profit drops on higher expenses

DB

02/02/2023 07:38

** Shares of DB Corp  DBCL.NS  fall as much as 9.5% to
107.75 rupees, mark sharpest intraday pct loss since Sept. 19
    ** Stock hits lowest level since Nov. 25, on track for a
second consecutive session of loss
    ** Stock's moving average convergence divergence (MACD) line
has been below the signal line since Jan. 17, indicating bearish
bias
    ** The print media co reported a 44.2% Y/Y fall in Q3
consolidated net profit due to rise in input costs
    ** Cost of materials consumed rose 42.4% Y/Y, offsetting a
3.7% growth in revenue due to festive season 
    ** More than 702,000 shares change hands by 12:53 p.m. IST,
nearly twice the 30-day avg of 369,479 shares
    ** Two of 3 analysts covering the stock have a "buy" or
"strong buy" rating, one has "hold"; median PT is 115.50 rupees
- Refinitiv data
    ** Stock rose 32.6% last year
($1 = 81.8920 Indian rupees)
 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))