India's Bayer CropScience below 50-day avg on stopping ops at plant

Bayer Cropscience

14/12/2022 04:32

** Shares of Bayer CropScience Ltd  BAYE.NS  falls 2% to
4,634 rupees, dipping below their 50-day moving avg after
staying above for the past 5 sessions
    ** Co said on Tuesday that the operations at its crop
protection formulations plant in Gujarat temporarily
discontinued ops based on orders from the Gujarat Pollution
Control Board
    ** Co says it has complied with all the observations and
submitted its compliance report on Dec. 1, with a request to
revoke the directions
    ** Adds, it is pursuing all ways to revoke the order, and
views it as temporary and not impacting continuity of business
in the short term
    ** Stock hits its lowest since Dec. 6
    ** Five of the 9 analysts covering the stock have a "buy" or
"strong buy" rating, 3 rate it "hold," while one recommends it
at "strong sell;" median PT is 5,500 rupees - Refinitiv data
    ** Stock down 4.8% YTD, up to last close
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))