India's Rossari Biotech falls after ICICI Securities lowers PT

By Reuters News

** Chemicals maker Rossari Biotech ROSB.NS shares fall 4% to 420 rupees

** ICICI Securities lowers PT to 520 rupees from 605 rupees; maintains "Buy" rating

** The new price target represents a 18.9% upside to the stock's last close

** Brokerage lowers FY27 & FY28 EPS estimates by 3-6%

** Says efforts on rationalisation, price push, and efficiency driving margin improvement

** Stock trades at forward 12 months PE of 14.45 vs industry median of 25.68 - LSEG-compiled data

** YTD, stock down 27.8%

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