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Aarti Industries dips 7% on early termination of long-term contract

On June 15, 2017, the company had entered into a 10-year contract with a Global Agrochemical Major, to supply a high-value agrochemical intermediary with application into Herbicides

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SI Reporter Mumbai
Shares of Aarti Industries tumbled 7 per cent to Rs 852 on the BSE on Monday after the company said it has received an early termination notice from a customer invoking the "termination of convenience" clause of a long term contract entered on June 15, 2017. The contract was expected to generate revenue of approximately Rs 4,000 crore over 10-year period.

The stock of the specialty chemicals company was trading lower for the third straight day, down 9 per cent during the period. With past three day’s decline, it has slipped nearly 29 per cent from its all-time high

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First Published: Jun 15 2020 | 10:38 AM IST

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