Gujarat Narmada Shares Fall The Most In Six Months After Q2 Results

Shares of Gujarat Narmada Valley Fertilisers & Chemicals Ltd. declined the most in six months after the second-quarter profit declined.

The fertilizer and chemical company's consolidated net profit declined 16% to Rs 237 crore in the quarter ended September, according to its exchange filing.

Gujarat Narmada Valley Fertilizers & Chemicals Q2 FY23 (Consolidated, YoY)

• Revenue up 23% at Rs 2,587 crore.

• Ebitda fell 28% at Rs 309 crore.

• Ebitda margin 12% versus Rs 21%

Share prices of Gujarat Narmada Valley Fertilizers & Chemicals fell 9.04% to Rs 612.80 apiece as of 11:39 a.m., while the benchmark Nifty 50 advanced 1.60% on the NSE.

The total traded quantity is 5.8 times the 30-day average. The relative strength index of the stock is 27, which indicates that the stock might be oversold.