India's Sudharshan Chemical hits over 2-yr low as quarterly profit slumps

Sudarshan Chemical Industries

10/11/2022 06:41

** Shares of pigment manufacturer Sudarshan Chemical
Industries  SDCH.NS  fall as much as 4.4% to 395 rupees, lowest
since July 31, 2020
    ** Co reported on Wednesday 80.1% fall in its consolidated
profit to 45.4 million rupees ($555,759.58) in the July-Sept.
quarter 
    ** Revenue from operations rose to 5.21 billion rupees from
4.93 billion rupees a year ago
    ** Stock posts biggest intraday pct loss since Sept. 21
    ** Shares set to fall for second straight session
    ** More than 104,796 shares change hands by 0615 GMT vs
30-day avg of 112,504 shares
    ** Eight of the 10 analysts covering the stock have a "buy"
or "strong buy" rating, while 2 have "hold"; median PT is 530
rupees - Refinitiv data
    ** Stock down 25.9% YTD up to last close
($1 = 81.6900 Indian rupees)
 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))