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Last Updated : Oct 31, 2018 05:12 PM IST | Source:

Accumulate Bodal Chemicals; target of Rs 130: Kotak Securities

Kotak Securities recommended accumulate rating on Bodal Chemicals with a target price of Rs 130 in its research report dated October 26, 2018.

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Kotak Securities' research report on Bodal Chemicals

Bodal Chemicals Q2FY19 numbers were in line with estimates. EBITDA margin during the quarter strengthened further by 40bps QoQ, supported by a change in product mix and a higher realisation. Going ahead, we foresee contribution from new dyestuff capacity to support revenue growth.


The stock at current valuations of 10.8x/9.0x FY19E/FY20E earnings, factors in all the potential negatives. But re-rating will take some more time. Recommend ACCUMULATE (earlier Reduce) with an unchanged target price Rs130.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

First Published on Oct 31, 2018 05:12 pm
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