March’24 results are on a roll and top Brokerage houses have initiated coverages on a lot of companies based on their past performance trajectory, future outlook, capex plans, revenue mix, and many other essential factors.
UBS, a multinational diversified financial services company, has recently initiated coverage on two of the chemical sector stocks, including ‘Navin Fluorine International Limited’ and ‘PI Industries Limited’.
UBS mentioned several indicators such as Positive Material Identification (PMI), new orders, and Brazilian chemical imports strongly suggesting modest improvements in the company volumes.
Listed below are the chemical sector companies, the target price provided, and the rationale pertaining to the same:
Navin Fluorine International Limited
With a market capitalization of Rs 16,566 crores, the stocks of Navin Fluorine International Limited started their trading session on Thursday at Rs 3,370 and currently trades at Rs 3,341.50, jumping approximately 0.62 percent compared to the previous close of Rs 3,321 apiece.
UBS gave a ‘Buy’ recommendation on the stocks of Navin Fluorine International Limited with a target price of Rs 4,250 indicating a potential upside of approximately 27.20 percent compared to the prevailing share price level.
The rationale behind providing such an aggressive recommendation pertains to the company leveraging its growth opportunities in agrochemicals, contract development & manufacturing (CDMO), and 3rd/4th-gen refrigerants.
PI Industries Limited
With a market capitalization of Rs 55,066 crores, the stocks of PI Industries Limited started their trading session on Thursday at Rs 3,611.15 and currently trades at Rs 3,629.50, slipping approximately 0.87 percent compared to the previous close of Rs 3,661.40 apiece.
UBS gave a ‘Buy’ recommendation on the stocks of PI Industries Limited with a target price of Rs 4,800 indicating a potential upside of approximately 32.24 percent compared to the prevailing share price level.
The rationale behind providing such an aggressive recommendation pertains to the company’s strong growth, less volatile business model, and potential scale-up of its pharma vertical.
Written by Amit Madnani
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