India's Laxmi Organic posts worst intraday pct fall in three weeks

Laxmi Organic Industries

21/04/2023 06:35

** Shares of specialty chemicals manufacturer Laxmi Organic
Industries Ltd  LAXR.NS  fall as much as 3.1% to 271.35 rupees,
their steepest intraday pct decline since March 28
    ** Decline comes after co approves proposal to raise funds 
via equity or debt 
    ** LAXR seeks to borrow 20 billion rupees ($243.4 mln)
    ** Over 554,000 shares change hands by 10:36 a.m. IST, 0.6x
the 30-day moving avg
    ** As of last close, stock down 5.6% so far this year,
extending its 31.3% decline in 2022

    ($1 = 82.1500 Indian rupees)


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))