Chemicals maker Bayer CropScience slides after Q3 profit drop

UPL

02/02/2024 08:15

** Shares of agro-chemicals maker Bayer CropScience
 BAYE.NS  down 3.6% at 5,846 rupees 
    ** Shares dropped as much as 5.62% earlier in the session, 
in sharpest intraday pct loss since Sept. 16, 2022 
    ** Indian unit of German parent Bayer AG  BAYGn.DE  reported
a 31% fall in Q3 profit, beleaguered by sluggish demand 
    ** Stock gained for the third straight month in January,
eyes fourth consecutive qtrly gain 
    ** More than 88,000 shares changed hands by 1:16 p.m. IST,
3.7x 30-day avg 
    ** Mean recommendation of 7 analysts rating the stock is
"buy", median PT is 5,870 rupees - LSEG data
    ** YTD stock has risen ~6% vs larger rival UPL's  UPLL.NS 
9% slide

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