India's Varroc Engineering falls as Citi flags rare-earth disruption

Varroc Engineering

08/08/2025 06:42

** Shares of Varroc Engineering VARE.NS fall 3.7% to 533 rupees

        ** Stock gained nearly 5% after reporting Q1 profit rise on Thursday

** Citi maintains "sell" rating, cuts TP to 480 rupees from 510 rupees

** Auto parts maker missed Citi EBITDA margin view

** Citi cautious on near-term outlook, citing rare-earth material disruption impacting EV growth

** Trading volume at 230,000 shares so far, 1.2x 30-day avg

** VARE rated "hold" by 5 analysts on average; median TP is 587 rupees – data compiled by LSEG

** Stock down 9.3% YTD

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))