Indian biofuel firms among beneficiaries of Israel conflict - InCred Equities

Kotyark Industries

10/10/2023 07:54

** Brokerage InCred Equities says Indian biofuels, shipping
and electronics makers can benefit from the conflict in Middle
East
    ** Says rising oil prices a positive for petrol and diesel
substitutes like ethanol, biodiesel, biogas
    ** Names BCL Industries  BCLN.NS , Kotyark Industries
 KOTY.NS  and Adani Ports  APSE.NS  as beneficiaries
    ** Says while APSE's Haifa port is threatened, unit Indian
Oil Adani Ventures has a large compressed biogas plant
    ** InCred says suppliers of parts for Israeli defence
manufacturers also likely to see an uptick in business
    ** Says "add"-rated Cyient  CYIT.NS  makes printed circuit
boards for Israeli firms like Rafael and Israel Aerospace
Industry (IAI)
    
 Company  Rating       Price Target  Current price  2-day pct
                       (rupees)      (rupees)       gain/loss
 BCL      Not covered  -             538.8          0.5%
 Kotyark  Not covered  -             810            2.0%
 Adani    Not covered  -             810            -2.5%
 Ports                                              
 Cyient   "Add"        826           668            0.0%
 
 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))