Equity99 is bullish on Chembond Chemicals recommended buy rating on the stock with a target price of Rs 250 in its research report dated May 21, 2020.
Equity99's research report on Chembond Chemicals
Chembond Chemicals Limited is a known name in India, manufacturing a diverse range of specialty chemicals like water treatment, metal treatment, construction chemicals, high performance coatings and industrial biotech products. The company has excellent infrastructure facilities like a well equipped R & D laboratory, multiple regional offices and production plants, well trained personnel and references across several business segments from the best known companies in the field. It’s Head Office and Research Centre is at Navi Mumbai - Maharashtra and manufacturing plants at Tarapur (Maharashtra), Mahape (Navi Mumbai), Baddi (Himachal Pradesh), Dudhwada (Vadodara, Gujarat), Ranipet (Chennai) and Uttaranchal and branches are located at Mumbai, Chennai, Delhi, Kolkata and Ahmedabad.
We believe Chembond Chemicals Ltd is a potential re-rating candidate. We initiate coverage with a Buy and target price of Rs.250. We are closely monitoring company's executions and keep upgrading our forecasts on the basis of earnings.
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