Growth concerns weigh on PI Industries; stock slips 12% in 2 days

The stock saw sell-off after reports indicated that the company might feel pressure on its key product -- pyroxasulfone -- due to capacity additions in China

Shares of PI Industries continued to stay under pressure for a second straight day on Wednesday, down 3 per cent at Rs 3,389.95 on the BSE in the intraday trade, on growth concerns. The stock of the pesticides & agrochemicals company slipped 5 per cent from its intraday high of Rs 3,577.05 today.

In the past two trading days, the market price of PI Industries has dipped 12.5 per cent after reports indicated that the company might feel pressure on its key product -- pyroxasulfone -- due to capacity additions in China.

Brokerage firm Motilal Oswal Financial Services (MOFSL) has, however,