India's Galaxy Surfactants hits over 21-month low

Galaxy Surfactants

11/01/2023 06:44

** Shares of chemical manufacturer Galaxy Surfactants
 GALX.NS  fall as much as 1.1% to 2,354.95 rupees, lowest since
March 26, 2021
    ** Stock has been trading below 50-day, 100-day and 200-day
moving avgs since Nov. 11, 2022
    ** Moving average convergence divergence (MACD) line below
signal line since Nov. 28, indicating bearish sentiment
    ** Five of 9 brokerages rate the stock "buy" or higher, 4
"hold," and 1 "sell;" their media PT is 3,098.5 Indian rupees
    ** Stock lost 21.8% in 2022, first annual drop since market
debut in 2018
 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com; +91 8075473630;))