India's Fine Organic Industries slides on Q2 profit, rev slump

Fine Organic Industries

31/10/2023 06:16

** Shares of India's Fine Organic Industries  FINO.NS  down
as much as 2.99% at 4,451 rupees, lowest since July 28 
    ** Stock logs sharpest intraday pct loss since Sept. 12 
    ** Specialty chemicals maker posted 41% fall in Q2 consol
rev from ops at 5.4 billion rupees ($64.86 million), net profit
down by about 49% 
    ** More than 31,337 shares changed hands by 11:34 a.m. IST,
1.4x 30-day avg  
    ** Mean recommendation of 10 analysts equivalent to "hold",
median TP is 4,469.50 rupees - LSEG data
    ** Stock last down 2.9%, taking YTD losses to more than 22% 

($1 = 83.2600 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))