Sudarshan Chemical Industries Ltd saw its shares rise by 5% today, following an upgrade by HDFC. The brokerage firm raised its rating on the stock from “REDUCE” to “ADD,” with a revised target price of ₹1,161 per share. The positive sentiment around the stock is linked to Sudarshan Chemical’s recent strategic developments, particularly after its post-Heubach deal moves.
In an analyst call held yesterday, the company highlighted its growing position in the global pigment market. With major global players stepping away from the pigment business over the past four years, Sudarshan Chemicals stands to benefit as it strengthens its presence. The company’s comprehensive range of offerings, which cater to industries like coatings, plastics, inks, and cosmetics, has enabled it to deliver industry-leading products and services with a global reach.
In addition, the company revealed that it is exploring the possibility of an open offer for listed Indian entities of the group, signaling potential future corporate actions that could impact its market standing.
HDFC’s upgrade and the company’s strategic focus have given Sudarshan Chemical a positive outlook, driving investor interest. The stock is currently trading at ₹1,114.30, up 3.55%.
