Morgan Stanley has initiated coverage on six speciality chemicals companies with the top pick being SRF. It expects the market capitalisation of these firms to double by 2025.
The financial services company sees a $30 billion value creation opportunity on supply chains, expanding capacities and rising acceptance of global measures in the space.
The company has an 'Overweight' call on SRF, Aarti Industries, Navin Fluorine and PI Industries while it has an 'Equalweight' and an 'Underweight' call on Deepak Nitrite and Tata Chemicals, respectively.
| Companies | Stance | Target Price (Rs) |
| SRF | Overweight | 2,757 |
| Aarti Industries | Overweight | 954 |
| Navin Fluorine | Overweight | 4,562 |
| P I Industries | Overweight | 3,119 |
| Deepak Nitrite | Equalweight | 1,915 |
| Tata Chemicals | Underweight | 850 |
SRF was trading 0.35 percent higher at Rs 2,312.80 per share on the BSE on Monday around 11 AM while Navin Fluorine was trading 1.15 percent higher at Rs 3,723 per share. Deepak Nitrite was trading 0.45 percent higher at Rs 1,950 and Tata Chemicals was trading 0.68 percent higher at Rs 967 per share.
Aarti Industries and PI Industries were trading lower by 1.65 percent and 0.61 percent, respectively.
First Published: May 24, 2022 11:05 AM IST
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