Last Updated : Sep 30, 2020 02:02 PM IST | Source: Moneycontrol.com

Buy Sudarshan Chemicals; target of Rs 585: Anand Rathi

Anand Rathi is bullish on Sudarshan Chemicals has recommended buy rating on the stock with a target price of Rs 585 in its research report dated September 30, 2020.

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Anand Rathi 's research report on Sudarshan Chemicals

One of the largest pigment manufacturers in its home market (with a 35% market share) and the fourth-largest globally, Sudarshan’s strong brand equity, leading position, regular capacity additions and focus on high-margin products have been its key strengths. We believe that the exit of global players (BASF, Clariant), coming capex (Rs8bn over FY20-23), product launches and focus on the global market will be its future growth drivers.

Outlook

We initiate coverage on Sudarshan Chemicals with a Buy at a TP of Rs585 (22.3x FY23e EPS). The auto-sector slowdown and ban on single-use plastic would trim its short-term performance.

For all recommendations report, click here

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