HSBC projects recovery for Indian agro input companies in 2024

Dhanuka Agritech

21/12/2023 07:44

** Brokerage HSBC expects Indian agro input companies to
recover in 2024 following a "disruptive" 2023 
    ** Sector should rebalance over 1H2024 and may see a revival
in 2H on less inventory overhang, pesticide prices close to
bottoming out, higher crop prices - HSBC 
    ** Brokerage raises PT of Dhanuka Agritech  DHNP.NS  to
1,200 rupees and of Bayer Cropscience  BAYE.NS  to 5,600 rupees 
    ** Prefers UPL  UPLL.NS , PI Industries  PIIL.NS  and DHNP,
downgrades Rallis India  RALL.NS  to "reduce" from "hold" 
    ** DHNP rises 1.6%, on track to snap six straight weeks of
losses 
    ** BAYE, UPLL, RALL, PIIL gain between 0.4% and 1.4% on
Thursday

 (Reporting by Hritam Mukherjee)
 ((Hritam.Mukherjee@thomsonreuters.com;))