** Shares of Dyno Nobel DNL.AX little changed; up 0.2% at A$2.625 on the day
** Brokerages Citi and Morgan Stanley are optimistic on the fertiliser producer's divestment of its fertiliser distribution business to Ridley Corp RIC.AX
** While both brokerages are encouraged by the divestment's progress, Morgan Stanley says its proceeds appear "underwhelming"
** Morgan Stanley also says market must wait for a full separation of co's fertiliser business
** Citi remains cautious around pace of growth trajectory for co's explosives business across regions
** Citi sees 2H25 EBITs for explosives segment's Americas and APAC regions to contribute 60% and 65%, respectively, in line with co's guidance
** DNL down 10.6% YTD, including current session's moves
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))
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