India's Nuvoco Vistas falls after swinging to Q3 loss

Nuvoco Vistas

22/01/2025 08:42

** Shares of cement maker Nuvoco Vistas Corp  NUVO.NS  fall
as much as 6.6% to 330.10 rupees, lowest since Nov. 21
    ** NUVO reports Q3 consol net loss after tax at 613.7 mln
rupees ($7.1 mln) vs profit of 310.3 mln rupees yr ago
    ** Rev from ops fell 0.5% Y/Y to 24.09 bln rupees despite
volume growing by 16% YoY to 4.7 MMT in Q3
    ** Data from Nomura and Ambit showed that pan-India average
cement price for Dec-qtr was still 11% lower on year
    ** Stock set to snap a five-session rally, if trend holds
    ** Share price currently below 50-day, 100-day and 200-day
exponential moving averages
    ** Avg rating of 15 analysts equivalent of "Hold", median PT
is 367.50 rupees - LSEG data
    ** Stock fell 8.4% in 2024





($1 = 86.4625 Indian rupees)

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