Mahindra Logistics Shares Fall Over 5% After Posting Loss In Q2

Shares of Mahindra Logistics Ltd. fell over 5% on Wednesday after it reported a net loss in the July–September quarter.

Shares of the company fell as much as 5.27%, the lowest since Oct. 11, before rebounding to trade 4.35% lower at 10:05 a.m. This compares to a 0.04% advance in the NSE Nifty 50.

The stock has fallen 29.57% on a year-to-date basis. Total traded volume so far in the day stood at 7.9 times its 30-day average. The relative strength index was at 35.6.

Of the 14 analysts tracking the company, seven maintain a 'buy' rating, four recommend a 'hold,' and three suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 19.7%.