India's Aarti Industries hits over 4-yr low on Q2 profit drop

Navin Fluorine International

11/11/2024 08:27

** Shares of Aarti Industries  ARTI.NS  slump as much as 10%
to 427 rupees, hitting their lowest since Oct 2020
    ** Specialty chemicals maker reports a 43% fall in Sept-qtr
consol net profit at 520 mln rupees ($6.2 mln), hurt by higher
expenses
    ** Q2 rev from ops rose ~12%
    ** Busiest session since Dec 2004, more than 21 mln shares
change hands, about 14X 30-day avg 
    ** ARTI last down 8.2%, set for third straight session of
losses
    ** Avg rating of 19 analysts covering ARTI at "hold"; peers
SRF  SRFL.NS  and Navin Fluorine  NAFL.NS  rated "hold" and
"buy", respectively
    ** ARTI's median PT at 511 rupees - LSEG data
    ** Stock down ~33% so far this year vs a 8% and 9.5% fall in
SRF and NAFL, respectively
    
($1 = 84.3800 Indian rupees)

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