India's Best Agrolife loses most in over 1 year as co swings to loss

Best Agrolife

30/05/2023 05:22

** Shares of Best Agrolife Ltd  BESA.NS  fall as much as
12.76% to 915.35 rupees, mark sharpest intraday pct loss since
Feb 24, 2022
    ** Stock hits lowest level since Aug 29, 2022
    ** Co on Monday reported a Q4 consolidated loss of 84.1 mln
rupees ($1.02 mln) vs profit of 381.6 mln rupees yr ago
    ** The agrochemical co's revenue fell 17.9% YoY
    ** Managing Director Vimal Alawadhi said Q4FY23 was
difficult for the industry due to high channel inventory, excess
supply from China at lower prices 
    ** Adds BESA's products were more focused on kharif season;
they will now be introducing more rabi season focused products
to expand portfolio
    ** Share price below 50-day, 100-day and 200-day simple
moving averages, suggesting bearish trend
    ** More than 231,000 shares change hands, 4.9x 30-day avg of
47,265 shares
    ** Including session's loss, stock down 37.4% YTD

    ($1 = 82.6684 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))