Sudarshan Chemical Industries Ltd received a boost as HDFC upgraded the stock from “REDUCE” to “ADD” following the company’s recent developments and strategic moves post its deal with Heubach. The brokerage firm set a revised target price (TP) of ₹1,161 per share, reflecting increased confidence in the company’s future growth potential.
During an analyst call held yesterday, Sudarshan Chemical highlighted its expanding global presence and product offerings. The company’s position in the global pigment market has strengthened as several global players have shifted away from the pigment business in the past four years, presenting a tailwind for the Indian pigment manufacturer.
HDFC’s upgrade is based on the company’s ability to deliver industry-leading products and services with a broad global reach. The brokerage’s report noted that these factors, combined with future growth opportunities, make Sudarshan Chemical an attractive addition to investors’ portfolios.
Sudarshan Chemicals also shared its plans of possibly pursuing an open offer for listed Indian entities of the group, further indicating potential future corporate actions. These moves have positioned the company well to capture a larger market share in the pigment industry.
The stock continues to attract attention from investors following the upgrade and strategic outlook.
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