India's Laxmi Organic Industries hits over 1-1/2 year low

Laxmi Organic Industries

14/03/2023 09:23

** Shares of specialty chemicals manufacturer Laxmi Organic
Industries Ltd  LAXR.NS  fall as much as 2.1% to 245.60 rupees,
lowest since July 6, 2021
    ** Stock trading below 50-day (273.09), 100-day (288.94) and
200-day (306.94) simple moving avgs, suggesting bearish
sentiment
    ** Relative strength index (RSI) seen below 30, indicating
stock is oversold
    ** Stock on track to fall for fifth consecutive session, if
losses hold
    ** Over 283,000 shares change hands by 02:43 p.m. IST, 0.9x
the 30-day moving avg
    ** As of last close, stock down 15.5% so far this year,
extending its 31.3% decline in 2022 

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))