Trend

Chemical reaction

Amidst macro concerns and volatile stock, promoters of Aarti Industries sell shares worth ₹1.64 billion

Economic gloom has left no sector untouched as an exports-oriented player with a diversified portfolio has also been hit in the past two quarters. Aarti Industries, a specialty chemicals player that gets 42% of its business from exports saw its revenue decline 18% YoY in Q2FY20. This was a result of weakness in the specialty chemicals and pharma segments. As the company grapples with macro problems, its stock has been volatile. From a 52-week low of Rs.650 in February 2019, the stock hit an all-time high of Rs.950 in May 2019. But due to sluggish FY20 results, the stock now trades at Rs.840.