India's Divgi Torqtransfer falls to near 6-month low on Q3 profit slump

Divgi TorqTransfer Systems

05/02/2024 07:48

** Shares of Divgi Torqtransfer Systems  DIVG.NS  fall as
much as 8.2% to 834.4 rupees, lowest since Aug. 11
    ** The auto parts maker said on Friday its Q3 profit fell
over 22% as demand falls
    ** EBITDA margin contracts to 26% from 30% Y/Y
    ** More than 83,000 shares change hands, 3x its 30-day avg
    ** DIVG trading below its 50-day, 100-day avg since mid-Jan;
slipped below 200-day simple moving avg on Friday
    ** Stock fell over 5% in both the month of Jan. and Q3


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))