India's Navin Fluorine International hits near 3-year low on Q3 profit slip

Navin Fluorine International

07/02/2024 05:22

** Shares of Navin Fluorine International  NAFL.NS  fall as
much as 6.9% to 3,035.1 rupees, lowest since April 22, 2021
    ** Specialty chemical maker said on Tuesday its Q3
consolidated profit slipped ~27% to 780.2 mln rupees ($9.4 mln),
consol rev from ops down 11%
    ** Fall in sales due to inventory destocking, said co
    ** More than 1.3 mln shares change hands, 6.3x its 30-day
avg; on track for most active trading session since Oct. 5, if
trend holds
    ** NAFL trading below its 100-day and 200-day simple moving
averages since Oct
    ** Stock down over 8% for the week; on track to log sixth
consecutive weekly fall, if trend holds



($1 = 82.9900 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))