India's Navin Fluorine International hits record high after Q1 profit rise
BUZZ-India's Navin Fluorine International hits record high after Q1 profit rise ** Shares of Navin Fluorine International NAFL.NS up 11.4% at record high of 8,474 rupees
** Specialty chemicals maker's Q1 consol profit more than doubles to 2.43 billion rupees ($25.52 million); Q1 rev from ops rises 44.1% to 10.45 billion rupees
** Kotak ("Sell"; raises FV to 5,250 rupees from 4,990 rupees) says co reported better-than-expected quarter on sharp increase in revenue from its high-performance products segment, which covers refrigerants and inorganic fluorides
** Co also approves capex of 900 million rupees to establish adoption capacities for products which are part of its advanced materials portfolio
** Stock rated as "Buy" on average by 25 analysts; median PT at 8,010 rupees - LSEG-compiled data
** YTD, stock up 42.7%
($1 = 95.2175 Indian rupees)
(Reporting by Mridula Kumar in Bengaluru)
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