India's Jubilant Ingrevia jumps to nearly 3-yr high after Equirus' St-high PT

Jubilant Ingrevia

04/09/2024 08:14

** Shares of Jubilant Ingrevia Ltd  JUBN.NS  up 8.7% at
509.65 rupees, their highest since October 2021
    ** Equirus Securities raises PT to a Street high 900 rupees
from 660 rupees earlier
    ** Brokerage likes chemicals maker's focus on investing in
high value businesses
    ** Says JUBN's specialty chemicals business benefiting from
shutdown of key plant by rival Vertellus and stands to benefit
from companies looking to source chemicals outside of China
    ** Estimates EBITDA from FY24-27 to grow at a compounded
rate of 23% from focus on high-value businesses
    ** Specialty chemicals is JUBN's second-biggest business
over last 7 yrs, but among its most profitable ones
    ** Around 8.4 mln shares traded, 7x 30-day avg volume 
    ** Stock up ~44% YTD


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))