GNA Axles fell 11.71% to Rs 280.80 after consolidated net profit lost 57.5% to Rs 7.63 crore on 13% decline in net sales to Rs 214.14 crore in Q3 December 2019 over Q3 December 2018.
Consolidated profit before tax (PBT) tumbled 63.10% to Rs 10.04 crore in Q3 December 2019 as against Rs 27.23 crore in Q3 December 2018. Tax expense fell 66% to Rs 3.11 crore in Q3 December 2019 as against Rs 9.16 crore in Q3 December 2018. The result was announced on Saturday, 18 January 2020.
In the past three months, the scrip has grown 16.12% to its current market price of Rs 280.80. The stock was trading in the range of Rs 275.05 to Rs 289.35 during the day.
On the technical front, the stock's RSI (relative strength index) stood at 52.189. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 5-day moving average (DMA) placed at Rs 298.75 and above its 20-day moving average (DMA) placed at Rs 276.63.
GNA Axles is engaged in the manufacturing of auto parts. It manufactures rear axles, shafts, spindles and other automobiles components for sale in domestic and foreign market.
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