ADVERTISEMENT
United Phosphorus shares plummet 11% on cut in revenue growth guidance
If successful, the takeover will be the largest overseas acquisition by an Indian firm since Tata Motors' 2008 buyout of Jaguar Land Rover.
01 Mar 2012, 02:36 PM IST 
Ford at the Delhi Auto Expo in January, 2012
Shares of United Phosphorus plummeted on Thursday by over 11 per cent on the back of a cut in revenue growth guidance by the company.
“Considering the weather issues delaying start of season in major markets of the Company, it is expected that revenue growth of the Company for the year 2011-12 will be in the range of about 25 to 30 per cent over last year,” the company said in a stock exchange filing.
This is far lower than the 35-40 per cent revenue growth guidance given earlier.
As of 2.29 pm, the share price stood at Rs 137.70, down 17.65 or 11.36% on the Bombay stock exchange.