Gujarat Fluorochemicals hits record high, ICICI Securities begins coverage

Gujarat Fluorochemicals

02/12/2021 09:15

** Shares of the chemicals maker  GUJL.NS  rise as much as
15.9% to a record 2,387.8 rupees
    ** ICICI Securities on Tuesday initiated coverage of the
stock with a 'buy' rating, target price of 3,086 rupees
    ** Brokerage says co "in a sweet spot with its presence in
fluoropolymers" with increasing demand from battery and solar
panel makers 
    ** Says co "also expanding into other fluorine derivatives
used in the new-age verticals", thus expanding growth potential
    ** GUJL stock on track for its best session ever
    ** More than 750,000 shares change hands by 0900 GMT vs the
30-day avg of 107,000 shares
    ** Stock price has more than tripled in value this year, up
to last close

 (Reporting by Soumyajit Saha in Bengaluru)
 ((Soumyajit.Saha@thomsonreuters.com;))