Navin Fluorine dips 16% in 4 days after MD resigns; Firm remains positive

Valuations are rich and hence, the brokerage firm Motilal Oswal Financial Services said it maintain Neutral rating on the stock owing to limited upside.

Shares of Navin Fluorine International (NFIL) continued to remain under pressure, and hit 52-week low of Rs 3,654.25. The stock was down nearly 5 per cent on the BSE in Thursday’s intra-day trade.

In past four trading sessions, the stock of commodity chemicals slipped 16 per cent after the company on September 28 informed that it's Managing Director, Radhesh R. Welling, resigned from the post for personal reasons. The resignation would be effective from December 15, 2023 and he would continue to serve the company till then ensuring smooth transition.

The stock of NFIL has fallen below its