India's Navin Fluorine International falls to over one-year low; Kotak cuts PT

Navin Fluorine International

05/10/2023 05:39

** Shares of Navin Fluorine International  NAFL.NS  drop as much as 4.6% to
3,764.50 rupees, lowest since July 4, 2022 
    ** Kotak Institutional Securities slashes fair value for co to 4,170 rupees
from 5,160 rupees earlier; sets "Add" rating for the stock 
    ** Brokerage says downturn in chemicals industry is key concern for co 
    ** Expect Q2 to remain restrained amid industry-wide downturn that may be
hurting agrochemical-exposed products - Kotak analysts 
    ** Brokerage cuts FY24-FY26 earnings per share estimate by 3%-10% 
    ** 15 of 23 analysts rate the stock "buy" or higher, six "hold" and two
"sell" or lower; their median PT is 5,104 rupees - LSEG data 
    ** Stock has risen ~7.2% YTD, including session's fall

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))