India's Symphony falls on drop in Q1 profit

Symphony

27/07/2023 09:03

** Shares of Symphony  SYMP.NS  fall as much as 2.2% to
855.35 rupees, mark sharpest intraday pct loss since May 8
    ** Air cooler maker reports 17% YoY fall in consolidated net
profit for June-qtr, while rev from ops drops 8.2%  urn:newsml:reuters.com:*:nFWN39D16G
    ** SYMP declares an interim dividend of 1 rupee per share
    ** Share price below 50-day, 100-day and 200-day exponential
moving averages since June 26, suggesting bearish trend
    ** More than 120,000 shares change hands by 1:22 p.m. IST,
1.8x the 30-day avg
    ** Three of the 7 analysts on stock have a "buy" or "strong
buy" rating, 2 have "hold", while three recommend "sell"; median
PT is 975 rupees - Refinitiv data
    ** Stock down 4.7% YTD


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