Moneycontrol PRO

Buy Balaji Amines; target of Rs 1104: CD Equisearch

CD Equisearch is bullish on Balaji Amines has recommended buy rating on the stock with a target price of Rs 1104 in its research report dated August 31, 2020.

August 31, 2020 / 06:09 PM IST
  • bselive
  • nselive
Todays L/H

CD Equisearch's research report on Balaji Amines

Market for amines is expected to expand at a CAGR of over 4% during 2020-25 according to a report published by Mordor Intelligence this year. Large demand from the pharmaceutical industry is expected to drive demand over the coming years. Asia-Pacific has become the largest consumer as well as one of the largest producer of amines. The production has reached such high levels that it has become a major hub for exporting of cosmetics and personal care products to developed nations, such as the United States and Europe. The global specialty chemicals market is estimated to grow at a CAGR of 5% from 2020 to 2027 according to latest estimates from PRNewswire published in July 2020.


On the other hand, regulatory issues with regard to EDA could pose challenges for them going ahead. Weighing odds, we retain our buy rating on the stock with target price of Rs 1104 (previous target 543) based on 21x FY22e EPS of Rs 52.57 over a period of 9-12months.

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.

Broker Research
first published: Aug 31, 2020 06:09 pm