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Buy Grasim Industries; target of Rs 1900: Sharekhan

Sharekhan is bullish on Grasim Industries has recommended buy rating on the stock with a target price of Rs 1900 in its research report dated March 08, 2023.

March 09, 2023 / 11:38 IST
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Sharekhan's research report on Grasim Industries

Grasim is expected to benefit from stabilizing VSF prices in Q4FY2023 to date post sharp q-o-q correction seen during Q3FY2023 while it continues to focus on leveraging LIVA brand. Caustics soda prices witness q-o-q correction in Q4FY2023 till date post sharp uptick seen in Q3FY2023. Focus to remain on chlorine integration and capacity expansions to improve ECU realisations. It remains to track to set up six units in paints by Q4FY2023 end while it remains committed on becoming second largest player in paints serving premium to basic range of products.

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Outlook

We retain a Buy on Grasim with an unchanged PT of Rs. 1900 considering healthy growth outlook for its key subsidiaries and standalone businesses.