India Cements falls to 1-week low after quarterly loss widens

India Cements

24/05/2023 08:09

** Shares of India Cements Ltd  ICMN.NS  down as much as
3.4% to 189 rupees, their lowest since May 19
    ** Co hits sharpest intraday pct loss since April 21
    ** India Cements reported a loss for the quarter ended March
31 at 2.18 billion rupees ($26.66 million), compared with a loss
of 237.1 million rupees a year ago
    ** Brokerages bearish on co, with five of six firms on the
co rating stock a "sell" or below, one rates it a "hold", their
median PT is 157 rupees
    ** About 2.8 million shares change hands, vs 1.2x 30-day
average of 2.3 million shares 
    ** Stock down 10.4% YTD, as of last close

    ($1 = 81.7800 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))