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Buy Atul; target of Rs 7381: CD Equisearch

CD Equisearch is bullish on Atul has recommended buy rating on the stock with a target price of Rs 7381 in its research report dated August 25, 2020.

September 02, 2020 / 02:44 PM IST

CD Equisearch's research report on Atul

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.


ROE estimated at 18.7% for FY22 Vs 23.2% in FY20. On balance we retain our buy recommendation on the stock with revised target of Rs 7381 (previous target: Rs 4663) based on 28x FY22 earnings over a period of 9-12 months.

For all recommendations report, click here


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first published: Aug 25, 2020 07:50 pm
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