India's Acutaas Chemicals rise after JM Financial resumes coverage with 'buy'

Acutaas Chemicals

10/09/2026 07:03

** Shares of India's Acutaas Chemicals ACUA.NS rise as much as 5.6% to 3424 rupees
** JM Financial resumes coverage of co with "buy" rating, raises PT to 3,800 rupees from 2,125 rupees
** Brokerage cites strong growth in co's contract development and manufacturing business and rising contribution from newer specialty chemical businesses
** Sees volumes of Daro-V, an intermediate used in prostate cancer drug Nubeqa, growing about 3x by FY30, driving revenue from Nubeqa intermediates to about 17 billion rupees  ($178.49 million)
** Brokerage expects specialty chemicals revenue to grow at ~45% CAGR by FY30, driven by higher-value electrolyte additives and semiconductor chemicals
** Stock has more than doubled over past 12 months

($1 = 95.2425 Indian rupees)

 (Reporting by Surbhi Misra in Bengaluru)
 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))