Jan 13, 2017 05:27 PM IST IST | Source: Moneycontrol.com
Buy Coromandel International; target of Rs 375: Dynamic Levels
Dynamic Levels is bullish on Coromandel International has recommended buy rating on the stock with a target price of Rs 375 in its research report dated January 13, 2017.
Dynamic Level's report on Coromandel International
Higher budgetary allocation under agriculture and rural schemes in the Union Budget 2016-17 to increase investment in the sector. As Government plans to double farm income in 6 years, the industry will benefit from additional consumer spending.
Promotion of IPM, zero budget farming and usage of bio-pesticides by Indian Government and NGOs is gaining impetus. With increasing demand for organic food, farmers in certain states like Karnataka have reduced chemical usage and have adopted organic farming. Agrochemical companies will have to deal with the rising environmental awareness and address concerns on negative impact of pesticide usage.
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