India's Dev Information Tech up 5% on order win; reverses losses

Dev Information Technology

29/03/2023 09:54

** Shares of Dev Information Technology Ltd  DEVN.NS  climbs
as much as 5% to 89.25 rupees, their biggest intraday pct gain
since March 17
    ** The IT services provider on Tuesday said it won an order
worth 30 million rupees (~$364,000) from the IT ministry's
National Informatics Centre 
    ** Stock fell over 4% earlier in the day before reversing
losses 
    ** About 27,700 shares change hands, 1.2x the 30-day avg of
23,669 shares
    ** DEVN continues to trade below its 50-, 100-, and 200-day
moving averages
    ** Stock's moving average convergence divergence line is
slighlty under the signal line, suggesting bearish bias
    ** Stock down ~34% so far this year, as of last close


($1 = 82.3100 Indian rupees)

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