India's Metro Brands loses most in over 1 year as Q4 profit falls

Metro Brands

24/05/2023 05:10

** Shares of footwear specialty retailer Metro Brands Ltd
 METB.NS  fall as much as 5.96% to 828 rupees, mark sharpest
intraday pct loss since April 18, 2022
    ** Stock on track for a third consecutive session of losses,
if trend holds
    ** Co on Tuesday reported a 0.4% YoY fall in Q4 consolidated
net profit, while its rev from ops rose ~25% YoY
    ** Stock's moving average convergence divergence (MACD) line
below the signal line since May 17, indicating a bearish bias
    ** More than 131,000 shares change hands vs 30-day avg of
154,171 shares
    ** Seven of 10 analysts covering the stock have a "buy" or
"strong buy" rating, one has "hold" while two rate it at "sell";
median PT is 1,045 rupees - Refinitiv data
    ** Including session's loss, stock down ~1.8% YTD


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))