Why Astral Share Is Falling

26 March 2024: Astral's share price has seen some decline, and there could be a few reasons behind it:

1. Subdued Q2FY24 results: Astral's Q2FY24 results, reported in October 2023, might not have met analyst expectations. Factors like lower profit margins due to falling PVC prices and subdued sales volume growth could have disappointed investors, leading to a price drop.
2. Profit booking: After a strong run-up in the stock price earlier in 2023, some investors might be taking profits by selling their shares. This profit booking can cause a temporary correction in the share price.
3. PVC price fluctuations: Polyvinyl Chloride (PVC) is a key raw material for Astral. A decline in PVC prices can squeeze profit margins for the company. While there might have been some correction in PVC prices recently, this could still be impacting Astral's share price.
4. Overall market sentiment: A broader market correction or a bearish sentiment towards mid-cap and large-cap stocks can also drag down Astral's share price, even if the company's specific performance is stable.