HDFC Securities is bullish on Balaji Amines has recommended buy rating on the stock with a target price of Rs 452 in its research report dated July 29, 2019.
The profit advisory of Balaji Amines was partly because of the global trade standoff. The depth of sales guidance downgrade reflects pricing erosion across the chemical value chain
HDFC Securities is bullish on Balaji Amines has recommended buy rating on the stock with a target price of Rs 525 in its research report dated May 21, 2019.
In our assessment, growth levers for Balaji Amines are intact and we remain positive on the stock, primarily because of its strategy of capitalising on import substitution opportunities
Balaji Amines is the market leader in the manufacture of methyl amine, which is the building block of the aliphatic amine value chain
Balaji Amines’ management said the current developments have contributed to a price premium of about 25 percent, which can ease as these developments subside
Based on near term capacity expansion plans, improving end markets, product pricing scenario, expanding product portfolio both Balaji Amines (16.3x 2019e earnings) and Alkyl Amines ( 17.5x 2019e earnings) are well placed for growth in the near duopoly market.
Anti-dumping investigations by the central government for select amine products is also improving earnings growth scenario.
"A 10 percent tax does not take away from any investment decision. A 10 percent vs 0 percent is nothing that bleeds my pocket. “I don’t see this as a technical ceiling,” said Dipen Sheth, Head-Institutional Research at HDFC Securities.
D Ram Reddy, JMD, Balaji Amines said the hotel business is expected to improve going forward.
The Nifty is expected to witnessed uptrend going forward with minor hiccups with weekly trading range bound at 9,800 level on the downside and at 10,082 level on the upside.
Nirmal Bang is bullish on Balaji Amines has recommended buy rating on the stock with a target price of Rs 485 in its research report dated May 16, 2017.
Balaji Amines' Q4 net profit slipped 23.2 percent at Rs 17.9 crore versus Rs 23.3 crore, while its total income increased 7.3 percent at Rs 193.1 crore versus Rs 179.9 crore.
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Nirmal Bang is bullish on Balaji Amines has recommended buy rating on the stock with a target price of Rs 405 in its research report dated November 02, 2016.