India's Galaxy Surfactants hits two-year high as Centrum ups rating, price target

Galaxy Surfactants

16/09/2024 09:35

** Shares of specialty chemicals maker Galaxy Surfactants
 GALX.NS  rise 8.1% to hit its highest since Sept. 2022 
    ** Centrum upgrades stock to "Add" from "Reduce", hikes TP
to 3,331 rupees from 2,954 rupees
    ** New TP at ~10% premium on last close
    ** Co has been able to manage steady margins on its strong
risk management system despite higher costs, brokerage says
after interaction with GALX's management
    ** Says co has progressed into mild surfactants over last
3-4 years, which are gaining substantial traction from large
corporations
    ** Remains optimistic on growth prospects for GALX, powered
by new product innovations
    ** Analysts' avg rating on stock is "Buy", median PT is
3,419 rupees - LSEG data
    ** Stock up ~18% YTD

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))