India's Mahindra Logistics under pressure after Q4 loss

Mahindra Logistics

25/04/2023 05:17

** Mahindra Logistics  MALO.NS  falls for forth day in a
row, last down ~1% at 371 rupees, slipping below 50-day moving
avg
    ** Co posts its first loss in five qtrs in Q4 due to higher
costs, weak demand
    ** Motilal Oswal notes higher depreciation, interest
expenses amid muted growth in e-commerce
    ** Stock trading its 50-DMA (373.48 rupees) for first time
since April 10; has been below 100- and 200-DMA since Feb. 1
    ** Trading vol 0.5x 30-day avg by 9:30 a.m. IST
    ** Six analysts rate MALO "buy" or "strong buy", 4 "hold"
and 2 "sell"; median PT is 495 rupees - Refinitiv data
    ** Analysts' median PT is down ~8% in past three months,
while the stock has dropped ~22% in that same time

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))