India's Godrej Agrovet set for worst day in a year on Q4 profit slump

Godrej Agrovet

10/05/2023 05:16

** Shares of Godrej Agrovet Ltd  GODE.NS  down 3.7% at
422.60 rupees, set for biggest one-day drop since May 2022
    ** Agribusiness co reports a 74.6% slump in Q4 profit due to
higher costs and weak performance in its vegetable oil and crop
protection business
    ** Shares hit their lowest since April 3; on track for a
third consecutive session of loss, if trends hold
    ** Stock falls below its 50-day moving average; continues to
stay below 100- and 200-day moving averages
    ** Trading vol by 9:33 a.m. IST already 2.5x the 30-day avg
    ** The avg rating of the 8 analysts covering the stock is
"buy" and median PT is 570 rupees - Refinitiv data
    ** Stock is down ~10% YTD, after falling 9.3% in 2022 and
3.2% in 2021

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))