India's Relaxo Footwears falls to 18-month low
18/11/2022 08:08
** Shares of Indian footwear maker Relaxo Footwears Ltd
RLXO.NS fall as much as 3.1% to 880.50 rupees, marking its
lowest since May 7, 2021
** Stock on track for ninth consecutive session of losses
** RLXO makes and trades a range of footwear for men, women
and kids across some of its popular brands such as Relaxo,
Sparx, and Flite
** More than 200,000 shares change hands, 1.2X the 30-day
avg of 168,345 shares
** Three of the 12 analysts covering the stock have a "buy"
rating, 5 have "hold" while 4 rate it at "sell" or "strong
sell"; median PT is 915 rupees - Refinitiv data
** Stock down 30.8% YTD, as of last close
(Reporting by Anisha Ajith in Bengaluru)
((anisha.ajith@thomsonreuters.com))