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.
September 30, 2020 / 02:02 PM IST
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.
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.
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