India's Gujarat Fluorochemicals a key battery materials supplier, says ICICI; ups rating

Gujarat Fluorochemicals

14/10/2026 07:20

** Shares of specialty chemicals company Gujarat Fluorochemicals GUJL.NS up 2.13% at 4,647.70 rupees--highest level in four weeks
** ICICI Securities upgrades rating of stock to "buy" from "add", hikes TP to 5,380 rupees from 5,050 rupees
** Brokerage says company GUJL enjoys a distinct first-mover advantage with the largest battery chemicals portfolio in India
** "GFL is capable of addressing 70% of the total value (cost) requirement for LFP batteries, establishing the company as a critical player in the evolving non-Chinese global supply chain" --ICICI Securities
** Co benefits immensely from in-house access to critical hydrofluoric acid used in production of several battery materials along with its expertise in processing fluorine chemistry and managing high-temperature calcination
** 15 analysts on average rate the stock "buy", median TP of 4,860 rupees--LSEG-compiled data
** YTD, shares up 26.42%



 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))