Accumulate Aarti Industries; target of Rs 1110: CD Equisearch
CD Equisearch recommended accumulate rating on Aarti Industries with a target price of Rs 1110 in its research report dated October 28, 2020.
October 29, 2020 / 05:04 PM IST
CD Equisearch's research report on Aarti Industries
According to a report by Grand View Research, Inc, the global specialty chemicals market is estimated to grow by 3.7% CAGR to $844.2 bn during 2016-27 periods not least due to higher performance achieved by the application of specialty chemicals when compared to their conventional counterparts. Increasing disposable income, growing awareness, higher healthcare and construction spending, infrastructural development, and population growth are factors likely to increase the product sales across end-use industries such as construction, personal care, and cosmetics, pharmaceutical and nutraceuticals, food, automotive, and electronics.
Weighing odds, we advise accumulating the stock with revised target of Rs 1110 (previous target: Rs 890) based on 30x FY21e earnings.
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