Indian chemicals firm Aarti Industries rises on order win

Aarti Industries

27/12/2023 04:51

** Shares of specialty chemicals and pharmaceuticals
manufacturer Aarti Industries  ARTI.NS  rise as much as 2.6% to
649.65 rupees
    ** Co enters into a long-term supply contract with a global
agrochem firm for an agrochemical intermediate
    ** Says revenue potential of the contract is over 30 bln
rupees ($360.40 million)
    ** Stock was down as much as 1.1% in early trade before the
order win
    ** ARTI up ~15% in Dec, set for its second biggest monthly
gain in 2023, if trends hold 
    ** Stock up ~5% YTD, it had fallen ~30% in 2022


($1 = 83.2410 Indian rupees)

 (Reporitng by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))