India's Deepak Nitrite drops after co flags China, Red Sea challenges

** Shares of India's Deepak Nitrite DEEPAKNTR down 4.7% after shedding as much as 5% earlier in the session

** DPNT set to drop for the third straight session, if losses hold

** Facing multiple challenges - cheap dumping from China, recessive trends in EU, continuing Red Sea crisis and soft agrochemical demand, chemical maker flags in post-results call

** Brokerage Haitong sees persisting near-term volatility, downgrades co to "neutral" from "outperform"

** Co's Q4 consol rev from ops rose 8.4%, net profit rose 8.6%

** YTD DPNT has lost over 5%