India's Aarti Industries up after Emkay initiates with Street-high PT

Aarti Industries

19/01/2024 09:31

** Shares of Aarti Industries  ARTI.NS  up 11.1% at 679.25
rupees, highest since early Dec 2022
    ** Stock last rose more than 11% in March 2014
    ** Emkay Global initiates coverage on stock with "buy" and
Street-high PT of 750 rupees
    ** Sees value chain opportunities for co on feedstock and
energy cost issues for European competitors, along with
increased Indian nitric acid capacity
    ** Second-highest PT is 747 rupees by Dolat Capital Market,
which also rates the stock "buy"
    ** Avg rating on stock is "hold"; median PT is 557.95 rupees
- LSEG data
    ** Its rivals SRF  SRFL.NS , PI Industries  PIIL.NS , UPL
 UPLL.NS  are rated "buy" - LSEG

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))