India's PCBL falls 6% on Q2 profit drop, uncertain exports

PCBL Chemical

27/10/2022 06:19

** PCBL shares  PCBL.NS  fall as much as 6% to 132 rupees,
their worst intra-day pct fall since Sept 21
    ** The carbon black maker said Wednesday Q2 profit fell ~5%
as a 75.5% surge in cost of materials offset sales of the tire
strengthening material
    ** ICICI Securities says exports volumes outlook for carbon
black in near term is uncertain on production challenges in
Europe due to higher power cost
    ** ICICI expects India volumes to face challenges from
increased domestic supply
    ** More than 1 mln shares change hands by 0509 GMT vs 30-day
avg of 1.5 mln shares
    ** All five analysts covering the stock have a "buy" or
"strong buy" rating; median PT is 155 rupees - Refinitiv data
    ** Stock up 15.8% so far this year, up to last close vs S&P
BSE 500 Index's  .BSE500  1.51% rise
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))