India's Dilip Buildcon hits record low after Q4 loss widens

Dilip Buildcon

19/05/2023 10:27

** Shares of Dilip Buildcon Ltd  DIBL.NS  down as much as
6.86% to hit record low of 159.55 rupees    
    ** Stock marks sharpest intraday pct loss since Dec. 23; on
track for third consecutive session of loss, if trends hold
    ** Construction and infrastructure firm says its Q4
consolidated net loss widened by ~32% YoY to 731.6 mln rupees
($9 mln), as expenses remain high
    ** DIBL's March-quarter consolidated revenue from operations
rose 6.7% YoY to 28.41 bln rupees, while total expenses rose
3.4%
    ** Share price below 50-day, 100-day and 200-day simple
moving averages, suggesting bearish trend
    ** DIBL's relative strength index below 30, indicating it is
oversold
    ** More than 1 mln shares change hands by 2:45 p.m. IST,
3.1x 30-day avg
    ** Avg rating of 5 analysts close to equivalent of 'hold'
median PT is 246.50 rupees - Refinitiv data
    ** Including session's loss, stock down ~23.2% YTD



($1 = 81.7800 Indian rupees)

 (Reporting by Kashish Tandon and Ashish Chandra in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))