India's Sharda Cropchem drops on swing to loss, broker downgrades

Sharda Cropchem

25/07/2023 07:32

** Shares of Sharda Cropchem  SHCR.NS  down as much as 7.29%
at 446.25 rupees - lowest since April 27
    ** Co on Monday posted a swing to loss in Q1; shares closed
6.22% lower
    ** Antique Stock Broking downgrades co to "hold" from "buy",
cuts PT to 520 rupees from 720 rupees on near-term challenges
    ** Prabhudas Lilladher downgrades to "accumulate" from
"buy", cuts PT to 540 rupees from 640 rupees citing margin and
revenue pressures
    ** Stock on track for fourth consecutive session of decline
    ** More than 614,000 shares changed hands by 11:46 a.m. IST,
2.3x 30-day avg
    ** Seven analysts rate stock "buy" or higher, median PT
640.00 rupees - Refinitiv data
    ** Including session's losses, stock down ~13% so far this
year 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))