India's Gujarat Gas sinks to 1-year low as Q1 profit tumbles

Gujarat Energy

03/08/2023 05:28

** Shares of India's Gujarat Gas  GGAS.NS  down as much as
7.09% to hit lowest since Aug 8, 2022 at 438.60 rupees 
    ** The Gandhinagar-based gas distributor posted a 44% slump
in Q1 profit and 26% drop in revenue 
    ** Stock on track for third consecutive session of losses,
shares currently fall below 50-day and 100-day simple moving
averages 
    ** More than 2.7 mln shares changed hands, twice the 30-day
avg  
    ** Mean recommendation of 27 analysts eyeing the stock is
"hold", median TP is 531 rupees - Refinitiv IBES data 
    ** Including session's losses, GGAS down nearly 7% so far
this year 

    

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