India's PI Industries jumps after key client Japan's Kumiai raises profit forecast

PI Industries

04/06/2025 09:45

** Shares of Indian agrichemicals maker PI Industries PIIL.NS jump 5%

** Rise after key customer Kumiai Chemical Industry Co 4996.T forecasts higher half-year profit

** PIIL, and Japan's Kumiai also have a joint venture based in India

** Brokerages, in the past, have tracked co's growth in tandem with Kumiai

** Jefferies called PIIL "top pick" in a January 2025 note hoping for demand to normalise on Kumiai's destocking commentary

** Trading vols at ~791,000 shares vs 30-day avg of ~266,000 shares

** PIIL up 9% YTD

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))