India's Godrej Agrovet falls after unit gets assessment order

Godrej Agrovet

15/04/2024 09:20

** Shares of Godrej Agrovet Ltd  GODE.NS  fall as much as
5.3% to 506.15 rupees 
    ** Animal feed maker says unit got assessment order from
Commercial Taxes Department with penalty of 58.1 mln rupees
($696,387.18)
    ** Adds, co proposes to challenge the order before the
higher courts/authorities
    ** Stock on track to lose for 4th straight day
    ** More than 134,000 shares traded as of 1:45 p.m. IST,
busiest day yet since April 4
    ** Mean rating of 7 brokerages rating the stock is "Buy";
median PT is 570 rupees - LSEG data
    ** GODE last down 2.9%, adding to YTD losses of ~7%


($1 = 83.4306 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))