India's Atul rises as Emkay initiates coverage with 'buy'

Atul

23/04/2025 10:30

** Shares of diversified chemicals company Atul ATLP.NS up 3.4% at 6,236 rupees

** Brokerage Emkay initiates coverage with 'buy' rating and target price of 8,500 rupees, implying upside of ~41% to last close

** Says new capacities in liquid epoxy resin, caustic soda, and MCA to boost volume growth

** Revenue potential of 25 billion-30 billion rupees ($292.7 million-$351.23 million) over 2-3 years, says Emkay

** Adds, co's broad and diversified product portfolio, with market leadership in most key products reduced business risk

** Return ratios are expected to improve due to strong volume growth and a low base- Emkay

** Stock rated "buy" on avg; their median PT is 8,036 rupees - data compiled by LSEG

** Stock lost ~13% YTD

($1 = 85.4150 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

((Yagnoseni.Das@thomsonreuters.com))