Prabhudas Lilladher is bullish on Aarti Industries has recommended buy rating on the stock with a target price of Rs 988 in its research report dated November 14, 2019.
Prabhudas Lilladher's research report on Aarti Industries
We tweak our estimates to factor in lower revenue growth from 1) lower RM prices 2) demand weakness in auto and US agrochemicals business and 3) lower tax rate. AIL with a diversified product portfolio of 200 products remain well placed to capitalize on rising investment in domestic downstream industries along with global opportunities from US-China trade war.
We remain structurally positive on AIL's growth prospects despite near term weakness in growth. Reiterate BUY with a revised PT of Rs988 (Rs990 earlier).
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