India's Neogen Chemicals slips; Kotak cuts PT on battery capacity delays, fire incident
26/03/2025 06:39
** India's Neogen Chemicals NEOE.NS down 2%, set for third straight day of losses ** Kotak Institutional Equities cuts PT to 1,790 rupees from 2,090 rupees earlier on delay in battery capacity ramp-up and major fire incident in Dahej plant; retains "add" rating ** Cuts FY26 and FY27 revenue estimates by 14.5% and 16.5%, respectively ** Co earlier lowered FY26 revenue guidance range to 7.75 bln rupees to 8.50 bln rupees from 9.50 bln rupees to 10 bln rupees ** Notwithstanding near-term headwinds, Kotak says co's long-term story remains promising ** NEOE down 27% YTD, with 9% losses in three sessions including today (Reporting by Vivek Kumar M) ((VivekKumar.M@thomsonreuters.com;))
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