Investing in this stock can give profits, Axis Securities has increased its target price

Multibagger Stock: Brokerage and research firm Axis Securities is bullish on specialty chemicals maker Aarti Industries and has raised its target price on the stock. The brokerage firm said that the company continues to focus on growth through capacity expansion and accelerating utilization.

Given the strong future growth outlook, the brokerage firm has changed its recommendation from ‘Hold’ to ‘Buy’ and raised its target price on the specialty chemical stock to Rs 1,080 per share (earlier Rs 925).

Aarti Industries Limited registered a significant growth of 7.4% in FY21, supported by 11% YoY growth in Exports segment, 11% growth in Specialty Chemicals segment, 15% growth in Pharma segment and capacity utilization ramp-up. Growth is primarily driven by an encouraging recovery in global economic activity following the Covid-19 disruptions.

According to Axis Securities, a global player in benzene-based derivatives, strong R&D capability, strong financial strength, experienced and efficient management bandwidth, wide portfolio of 250+ products, and 20 state-of-the-art manufacturing facilities are key competitive forces for the company.

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