India's DCW slips on lower qtrly production outlook

DCW

15/06/2023 07:43

** Shares of India's DCW  DCWL.NS  down as much as 1.92% at
43.45 rupees 
    ** Chemicals maker says production of soda ash in Q1FY24
will reduce by 6 KMT 
    ** Lower production due to "unforeseen mechanical breakdown"
of carbon dioxide gas compressor at plant, says co 
    ** Stock seen losing for four straight session, if trend
holds
    ** DCWL falls below 50-day and 100-day simple moving
averages, indicating bearish trend  
    ** More than 1.2 mln shares changed hands by 11:45 a.m. IST,
0.7x the 30-day avg 
    ** YTD stock has fallen ~15%

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))