CD Equisearch has given Buy recommendation for Balaji Amines with a target price of Rs. 3613 in its research report issued on Jun 28, 2021

CD Equisearch’s research report on Balaji Amines

Increasing trend of industrialization and expanding manufacturing sector, coupled with factors such as growing population and rapid urbanization are likely to have a positive impact on the demand for amines. The Asia Pacific Region holds the highest share in the aliphatic amines market with pharmaceutical leading the segment. The industry is characterized by heavy capex requirements, stringent government regulations and complex manufacturing processes that create high entry barriers paving way for sustain growth in the future.

Outlook

Balancing odds, we retain our buy rating on the stock with revise target of Rs 3613 (previous target: Rs 1104) based on 30x FY23 earnings.