India's Atul hits 20-month low

Atul

09/01/2023 10:26

** Shares of Indian chemicals co Atul Ltd  ATLP.NS  fall as
much as 1.9% to 7,682 rupees - lowest since April 22, 2021 
    ** Co sees seventh straight session of losses
    ** ATLP trades lower than 50-day, 100-day and 200-day moving
averages since Dec. 30, 2022, indicating bearish sentiment 
    ** More than 32,100 shares traded vs 30-day average of
32,271 shares
    ** Brokerage Elara Securities expects co to post 15% Q/Q
earnings before interest, taxes, depreciation and amortization 
growth due to better spread of chemical components
    ** Five of 9 brokerages rate the stock "buy" or higher, 2
"hold" and 2 "sell" or lower; their median PT is 9,465.50 rupees
    ** ATLP fell 8.6% in 2022 after three straight annual gains
 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com; +91 9830427878))