India's MOIL drops most in over 9 months on Q4 profit plunge

Moil

29/05/2023 09:30

** Shares of MOIL Ltd  MOIL.NS  fall as much as 5% to 151.55
rupees, steepest pct drop since August 11
    ** Manganese ore miner posts 38.2% slump in March-qtr net
profit of 809.5 mln rupees ($9.80 mln)
    ** Rev from ops at 4.28 bln rupees, down 8.5% Y/Y
    ** About 420,923 shares change hands by 1:55 p.m. IST, 3.4x
the 30-day avg - Refinitiv Data
    ** Moving Average Convergence Divergence (MACD) line of the
stock is under the signal line, suggesting bearish momentum
    ** Stock last down 3.2%, extending YTD losses to 4.3% 


($1 = 82.6440 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))