India's Eclerx at 14-mth low as stock turns ex-date for buyback

eClerx Services

26/12/2022 09:30

** Shares of Eclerx Services  ECLE.NS  fall as much as
10.75% to 1,221 rupees, their lowest since Oct 2021
    ** Stock marks biggest intraday pct decline in 14 months
    ** Shares of IT consulting firm turn ex-date for buyback
today; had fixed Dec. 27 as record date for buyback eligibility
    ** Over 99,000 shares traded as of 2:12 p.m. IST, more than
twice the 30-day avg of 49,381 shares
    ** Stock last off ~3%, taling YTD losses to ~24% YTD vs a
26.5% fall in the Nifty IT index  .NIFTYIT 
    ** Share price is below 50-day (1,371.86 rupees), 100-day
(1,416.96 rupees) and 200-day (1,440.82) simple moving averages,
suggesting bearish momentum 
 (Reporting by Bharath Rajeswaran)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))