India's AYM Syntex falls 6% after Q4 profit drops

AYM Syntex

08/05/2023 06:50

** Shares of AYM Syntex  AYMS.NS  fall as much as 6.2% to
66.80 rupees, hitting their lowest level since Apr. 6
    ** Stock on track for a second consecutive session of loss
    ** Multi-polymer and specialty synthetic yarns maker on
Friday reported 94% Y/Y slump in Q4 profit with a 19% drop in
revenue 
    ** Share price above 50-day and 100-day simple moving
averages but below 200-day SMAs
    ** Stock's moving average convergence divergence (MACD) line
below the signal line since May 5, indicating a bearish bias
    ** More than 52,000 shares change hands by 11:03 a.m. IST,
1.6x 30-day avg of 32,678 shares
    ** Stock down 5.8% YTD, as of last close


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