Leading brokerage firm Sharekhan has given buy call to the chemicals sector stock, Vinati Organics Ltd with a target price of Rs 2500 apiece and a potential return of 21%. The stock is currently trading at a discount of 13% from its 52-week high level. Check key takeaways below:
Vinati Organics Ltd Stock Outlook
The current market price of the stock is Rs 2060 apiece with an intraday gain of 0.75%. According to Sharekhan, an investment in the stock at its current price will yield a potential return of 21% with a target price of Rs 2500.
Vinati Organics Ltd 52-Week High/Low
The stock's 52 week high is Rs 2372 apiece and 52-week low is Rs 1675 apiece, respectively.
Vinati Organics Ltd Market Capitalisation And Merger Plans
The company has a market capitalization of Rs 21,174.64 crore at the time of writing the story. According to Sharekhan, capacity expansion for existing products and entry into new products bodes well for earnings growth beyond FY24 for Vinati."
Additionally, the merger of Vinati Organics with Veeral Additives Private Limited (VAPL), is likely to be completed by the end of FY23. The merger will enable the company to tap the huge antioxidants market and offer an incremental revenue stream of Rs 300 crore and higher margins on antioxidants.
Vinati Organics Ltd 5-Years Return
The stock has given a 5-years return of 333%, 3-years return of 84%, and 1-year return of 9%. The stock has fallen 7% in 1 month and risen 10% in last 3 months.
Vinati Organics Ltd Latest Quarterly Result
The company for the quarter ended June 30, 2022 declared a consolidated total income of Rs 525 crore, up 4.75% as compared to last quarter total income of Rs 501 crore. It has declared a net profit after tax at Rs 101 crore in the latest quarter.
Vinati Organics Ltd About
It is a leading manufacturer of specialty chemical and organic intermediaries with a sustained market presence spanning over 35 countries in the world. Since its inception in 1989, it has evolved from being a single product manufacturer to an integrated business, offering a wide range of products to some of the largest industrial and chemical companies across US, Europe and Asia.
The above stock was picked from the brokerage report of Sharekhan. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.