India's Balaji Amines hits 52-week low on March-quarter earnings slide

Balaji Amines

22/05/2023 08:15

** Shares of Balaji Amines Ltd  BAMN.NS  tumble as much as
18.49% to a fresh 52-week low of 1,880 rupees
    ** Specialty chemicals maker reports 50% Y/Y slump in March
quarter profit on a 40% drop revenue  
    ** Core profit, too, more than halves as pharma and API
segments contracted - BAMN
    ** Co says CFO Hemanth Reddy Gaddam has resigned from the
post, to focus on subsidiary firm 
    ** Stock is most active in over two years, with a trading
volume of 785,236 shares as of 12:26 p.m. IST, ~7x the 30-day
avg - Refinitiv IBES data
    

     ($1 = 81.7800 Indian rupees)
    
    

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