India's PI Industries gains on upbeat FY25 outlook

PI Industries

20/06/2024 08:35

** Shares of PI Industries  PIIL.NS  rise as much as 3.4% to
3,774 rupees, highest since April 29
    ** The agricultural chemicals maker reiterated its 15% rev
growth guidance for FY25 in an analyst call
    ** Co's dominant share of early stage molecules to aid
double-digit percentage volume growth, says analysts at
Jefferies
    ** Adds, strong growth in new molecules lowering
concentration of risk on key products
    ** Jefferies maintains "buy" rating on stock, raises TP to
4,740 rupees from 4,630 rupees
    ** Twenty-three analysts covering the stock on avg have a
"buy" rating; median PT is 4,188 rupees - LSEG data
    ** Stock up 6% so far in June, eyes best monthly gain since
Feb.


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