India's Atul dips to over 3-month low after Kotak retains 'sell', sets Street-low PT

Atul

14/07/2026 06:29

** Chemicals maker Atul's shares ATLP.NS fall as much as 2.87% to 6084.5 rupees apiece, their lowest since March 30, 2026
** Drop after Kotak Institutional Equities reiterates "sell", saying that the chairman's letter in ATLP's annual report for the financial year 2026 reflects a highly uncertain industry environment
** ATLP Chairman Sunil Lalbhai's letter to shareholders says existing capacities can deliver additional sales of 4.36 billion rupees  ($45.4 million) and expansions can add sales of 3.95 billion rupees
** Numbers sharply lower than those cited by ATLP at analyst meet in May - Kotak
** Brokerage adds industry data indicates challenges across numerous business lines
** Kotak cuts price target to 5,900 rupees from 6,180 rupees, lowest among 10 analysts tracking ATLP, implying a downside of 5.8% in the next 12 months
** Shares down 1.1% in 2026 so far

($1 = 96.1475 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))