Specialty Chemicals Stock Gets "Buy" Call By KR Choksey For 46% Upside, Soon To Trade Ex-Dividend

Renowned brokerage firm KR Choksey places a "Buy" on Anupam Rasayan India Ltd with a target price of Rs 839 apiece. If you buy the stock of the company at the current market price, you are likely to get a healthy return of up to 46% considering the given target price. Stock on January 37, 2023 declared an Interim Dividend of Rs 0.6 per share. Anupam Rasayan is a midcap Specialty Chemicals sector stock. The company is engaged in manufacturing of specialty chemicals, which are sold in local as well as exported to other countries. It has a market capitalisation of Rs 6,186.37 crore. Below are the key highlights of the stock:

Anupam Rasayan India Ltd. Stock Performance

The last traded share price of Anupam Rasayan India on NSE is Rs 577.05 apiece, down 0.16% from its previous close. The stock's 52 week low is Rs 546.75 apiece recorded on 20 June 2022 and 52 week high is 1,107.55 apiece recorded on 2 February 2022, respectively. The stock was listed on 24 March 2021. Since the listing date, it has delivered 9.54% positive return. In the past 1 week, it has fallen by 3.26%. The stock has fallen 16.79% in the past 1 month, and 22.77% in the past 3 months, respectively. In the past 1 year, it has fallen 44.11%.

Anupam Rasayan India Ltd. To Trade Ex-Dividend

According to the Board of Directors of Anupam Rasayan India Ltd.'s Regulatory filing on January 27, 2023, "The Board has declared 2nd interim dividend of current financial year 2022-23 of ₹ 0.60 @ 6% per equity share of face value of ₹10/- each. 2. Fixed Record Date for the payment of 2nd interim dividend as February 08, 2023 and payment date on or before February 25, 2023."

Valuation - Strong products launch pipeline providing revenue visibility

According to the brokerage, Anupam Rasayan has delivered a stable performance despite macro challenges and the shutdown of one of the units. "We are positive on the company's long term growth trajectory on the back of a robust product launch pipeline especially in high value fluorination chemistry. We estimate Revenue/ EBITDA/ PAT CAGR of 32% / 31%/35% over FY22-25E. Anupam Rasayan is currently trading at PE multiples of 20.7x / 15.2x based on our FY24 / FY25 EPS estimates respectively. We assign PE multiple of 20.0x to FY25E EPS of INR 37.9 to revise the target price at INR 839/share (Previous TP : INR 941) and maintaining our BUY recommendation on the stock with an upside of 45.7% at CMP," the brokerage has said. 

Disclaimer

The stock has been picked from the brokerage report of K R Choksey. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.