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Buy Grasim Industries; target of Rs 1950: Sharekhan

Sharekhan is bullish on Grasim Industries has recommended buy rating on the stock with a target price of Rs 1950 in its research report dated May 26, 2023.

May 30, 2023 / 15:06 IST
Buy
     
     
    26 Aug, 2025 12:21
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    Sharekhan's research report on Grasim Industries

    Grasim Industries Limited (Grasim) reported a big miss on standalone net earnings, led by a sharp contraction in the chemical division’s operating margins, owing to weak demand, dip in realisations, and higher input costs. Viscose utilisation levels are expected to remain stable with gradual improvement in OPMs in FY2024. The chemical division may face near-term headwinds, led by a weak pricing environment. Paints and B2B commerce business phase-wise launch remain on track from Q4FY2024 and Q2FY2024, respectively. Capex on improving asset productivity and value-added products in viscose and chemicals.

    Outlook

    We retain Buy on Grasim with a revised PT of Rs. 1,950, as we pencil in upwardly revised valuation of UltraTech, partially getting offset by downwardly revised valuation of its standalone business.

    For all recommendations report, click here

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Grasim Industries - 29 -05 - 2023 - khan

    Broker Research
    first published: May 30, 2023 03:06 pm

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