India’s Jindal Drilling and Industries slips as qtrly profit falls

Jindal Drilling and Industries

24/01/2023 07:11

** Shares of Jindal Drilling and Industries  JNDR.NS  down
as much as 6.68% at 262.55 rupees, their lowest since Dec. 26
    ** Co records sharpest intraday fall since Dec. 23
    ** Oil and gas drilling company on Monday reported 28% slump
in third quarter ended Dec. consol net profit to 248.7 mln
rupees  ($3.05 million)
    ** JNDR inches below its 50-day, and 100-day moving average,
while it remains above its 200-day moving average since Dec. 26,
indicating bearish sentiment
    ** Stock set to fall for a sixth straight session
    ** About 192,076 shares change hands, as of 12:02 a.m. IST,
thrice the 30-day average of 64,197 shares 
    ** Stock traded most since Dec 1, 2022
    ** Stock gained 123.4% last year, on track for third
consecutive year of gains
    ($1 = 81.5240 Indian rupees)
 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))