Shares of Aarti Industries slipped over 3% in the early morning trade today on the back of a negative brokerage note from Morgan Stanley. As of 9:20 AM, shares of Aarti Industries were down 1.14% at Rs 614.15 on the NSE. The stock however made an early low of Rs 594 on the NSE after opening.
Morgan Stanley in its latest note on chemicals today has downgraded Aarti Industries to “Underweight” (UW) with a reduced target price of Rs 568, down from Rs 613. The downgrade reflects Morgan Stanley’s concerns over volume traction at sub-par price points within an increasingly competitive landscape in the first quarter of FY25 (F1Q25). The brokerage believes that the company’s monetization remains in play, but with significantly lower margins, which could impact near-term performance.
