India's Mahindra Logistics falls on third straight quarterly loss

Mahindra Logistics

25/10/2023 05:28

** Shares of Mahindra Logistics  MALO.NS  down 4% at 353.10
rupees
    ** Logistics arm of Mahindra Group posts third straight
quarterly loss after tax
    ** Q2 consol loss at 159.3 mln rupees ($1.92 mln) vs profit
of 121.9 mln rupees a year ago 
    ** Weak operating performance has lead to overall miss
-Motilal Oswal
    ** More than 300,000 shares change hands by 9:51 a.m. IST
1.1x  30-day avg of 268,000 shares 
    ** Five of 10 analysts covering stock have "buy" or "strong
buy" rating, two have "hold" while three rate it "sell" or
"strong sell"; median PT is 412.5 rupees - LSEG data
    ** Stock extends YTD losses to ~30% 



($1 = 83.0360 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))