India's Balaji Amines slides most in nearly 2-yrs on likely Q/Q dip in Q3 results

Balaji Amines

18/01/2023 07:37

** Shares of Balaji Amines Ltd  BAMN.NS  fall as much as
1.2% to 2,467.90 rupees, their lowest since June 18, 2021
    ** Shares set for a third consecutive session of losses
    ** The speciality chemicals maker is expected to post 8% Q/Q
dip in its Dec qtr PAT, hurt by continued under-utilisation of
demethylformamide plant and a 5-12% decline in product spreads -
brokerage Elara Capital said in a preview note
    ** Stock has been trading below its 50-day (2,799.46),
100-day (3,043.86) and 200-day (3,100.77) simple moving avgs
since Dec 2, 2022
    ** Over 32,600 change hands by 12:38 p.m. IST vs 30-day avg
of 34,632 shares
    ** Stock fell ~21% in 2022 after posting two consecutive
annual gains
 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))