India's Solara Active Pharma falls on weak analyst outlook

Solara Active Pharma Sciences

15/05/2023 11:17

** Shares of Solara Active Pharma Sciences Ltd  SOLA.NS 
down as much as 6.71% to 380 rupees, their lowest since May 11
    ** Co hits sharpest intraday pct loss since Sept. 26, 2022; 
second consecutive session of loss 
    ** Analysts at Antique Stock Broking said they see higher
pressure in co's active pharmaceutical ingredient prices, which
is likely to result in negative growth
    ** Consequently, brokerage cuts revenue and earnings per
share estimates by 8% for FY25
    ** Maintains SELL on the stock, with a revised TP of 303
rupees from 331 rupees earlier. 
    ** About 308,105 shares change hands as of 03:28 p.m. IST,
vs 1.9x 30-day average of 165,852 shares 
    ** Stock closed 6.4% lower on Monday

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))