Buy Balaji Amines; target of Rs 3613: CD Equisearch
CD Equisearch is bullish on Balaji Amines has recommended buy rating on the stock with a target price of Rs 3613 in its research report dated June 28, 2021.
June 28, 2021 / 02:19 PM IST
CD Equisearch's research report on Balaji Amines
Increasing trend of industrialization and expanding manufacturing sector, coupled with factors such as growing population and rapid urbanization are likely to have a positive impact on the demand for amines. The Asia Pacific Region holds the highest share in the aliphatic amines market with pharmaceutical leading the segment. The industry is characterized by heavy capex requirements, stringent government regulations and complex manufacturing processes that create high entry barriers paving way for sustain growth in the future.
Balancing odds, we retain our buy rating on the stock with revise target of Rs 3613 (previous target: Rs 1104) based on 30x FY23 earnings.
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