India's Hindware Home Innovation slides as qtrly profit sinks

Hindware Home Innovation

14/02/2023 04:47

** Consumer appliance seller Hindware Home Innovation
 HIIL.NS  down as much as 7.8% - steepest intraday fall since
Dec 23
    ** Co hits lowest level since Dec 26
    ** Homeware maker posted 78.3% tumble in qtrly consol net
profit to 77.8 million rupees ($942,059.70)
    ** Q3 consol rev from ops rose to 7.13 bln rupees from 6.49
bln rupees a yr ago
    ** Co shares trade below their 50-day moving average,
indicating bearish trend
    ** Co to sink for third consecutive session if losses hold 
    ** Around 143,286 shares changed hands as of 09:48 a.m. IST,
vs their 30-day moving avg of 145,976 shares
    ** Stock down 5.9% this year as of last close, after jumping
~5% in 2022
($1 = 82.5850 Indian rupees)
 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com; +91 9830427878))