SRF Ltd. shares have recently experienced a decline, reaching their lowest level in over four months. This decline follows a downgrade by UBS Global Research, which has changed its rating for the stock from 'Buy' to 'Sell'. Additionally, UBS has reduced its target price for the stock from Rs 2,700 to Rs 2,100 per share, indicating a potential downside of 8.77% from the previous day's closing price.

UBS has identified challenges in SRF's agro-chemical and refrigerant gas segments, leading to a forecasted reduction in earnings for the company in fiscal year 2025. The market is currently awaiting SRF's earnings report for the July-September quarter, which is scheduled for release on October 22.

SRF operates in the specialty chemicals sector, supplying products to various industries such as automotive, food packaging, and pharmaceuticals.