Economic TimesLean R·
Astral's demerger plan triggers sharp selloff, brokerages trim target prices
ET Intelligence Group: Shares of Astral, a manufacturer of plumbing products and construction chemicals, have fallen 11% since Monday after the company announced plans to demerge its chemicals business from the core plumbing operations. The fall can be attributed to uncertainty over the standalone valuation and growth prospects of the demerged entity. At present, the chemicals business generates lower margin and slower revenue growth compared with the plumbing segment. Analysts have reduced tar…
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