Newjaisa Tech slumps as Amazon India mulls shutting down refurbished product category

Newjaisa Technologies

04/03/2025 08:32

** Shares of Newjaisa Technologies NEWJ.NS fall the exchange-allowed maximum of 20% to hit record low of 50.4 rupees

** Co which operates in IT electronics refurbishment industry says Amazon India is considering shutting down its refurbished product category across all product lines in India, which is expected to impact co's business in the short term

** Stock set for biggest pct fall in a session

** Stock has been below its 100-day and 200-day simple moving avgs since Sept 2024, indicating bearish sentiment

** More than 1.2 mln shares traded, 37.6x its 30-day moving avg

** Shares changed hands most since Oct 6, 2023

** NEWJ fell 42.8% in 2024

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))