India's Fine Organic Industries falls on quarterly profit slump

Fine Organic Industries

27/07/2023 06:23

** Shares of chemical manufacturing company Fine Organic Industries
 FINO.NS  falls as much as 5.6% to 4,450 rupees
    ** Co on Wednesday reported a nearly 38% slump in June qtr profit on an ~27%
drop in revenue from operations  
    ** Stock logs biggest pct loss since Feb. 10  
    ** More than 70,000 shares change hands by 10:14 a.m. IST, 2.7x the 30-day
avg 
    ** Four of the 10 analysts covering stock have a "buy" or "strong buy"
rating, 3 "hold"  and 3 "sell" or "strong sell;" median PT is 4,702 rupees -
Refinitiv data
    ** Stock lost ~18% this year, as of last close

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))