Stock Track | DRINDA Plummets 5.19% Intraday Due to Photovoltaic Sector Headwinds and Profit-Taking

Stock Track04-23

DRINDA's stock price fell sharply by 5.19% during intraday trading on Thursday. The decline comes after the stock had seen significant gains in previous sessions.

The broader photovoltaic sector is facing sustained pressure, with industry data showing PV glass inventory days have surged to 51.90 days and total inventory reaching 2.856 million tonnes. An ongoing industry-wide price war continues to weigh on sector sentiment, despite recent government measures aimed at curbing cutthroat competition.

Additionally, the current pullback is attributed to profit-taking activity following the stock's recent strong performance, where it had accumulated gains exceeding 10% in the days prior to the decline.

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