4 Chemicals Stocks To Buy, Accumulate As Recommended By Leading Brokerages

Four leading brokerages have assigned buy and accumulate call to 4 chemicals sector stocks. These stocks are PI Industries Ltd, Fineotex Chemical Ltd, Anupam Rasayan, and Deepak Nitrite.

Motilal Oswal recommended buy call to PI Industries shares, KR Choksey gave buy rating to Fineotex Chemicals shares, accumulate to Anupam Rasayan shares, and Prabhudas Lilladher recommended buy call to Deepak Nitrite shares. Check details below:

1. Buy PI Industries Ltd Shares: Motilal Oswal has recommended buy call to PI Industries Ltd shares with target price of Rs 4350 apiece. Current market price of PI Industries shares on BSE is Rs 3673.35 apiece with intraday fall of 0.15%. The 52-week high price of PI Industries stock on BSE is Rs 4010.00 apiece and 52-week low price is Rs 2870.00 apiece, respectively. The company has a market capitalisation of Rs 55,731.37 crore.

PI Industries Ltd shares jumped 12% in last 1-month, fell over 2% in last 3-months, and gave return of 16% in last 1-year. In last 2-years, PI Industries Ltd shares jumped 45% and rallied 306% in last 5-years.

2. Buy Fineotex Chemical Ltd Shares: The last trading price of Fineotex Chemical shares on BSE is Rs 442.55 apiece with intraday fall of 1.61%. The 52-week high price of Fineotex Chemical shares on BSE is Rs 458.00 apiece and 52-week low price is Rs 208.45 apiece. The company has a market capitalisation of Rs 4901.90 crore. Fineotex Chemical shares gained 35% in last 3-months, soared 88% in last 1-year and gave return of 179% in last 2-years. In last 3-years, Fineotex Chemical shares zoomed 531%.

KR Choksey has assigned buy rating to Fineotex Chemical shares and upgraded the target price to Rs 570 apiece (earlier Rs 531). According to the analyst, "Currently, the stock is trading at 41x/31x/23x FY24E/FY25E/FY26E EPS, respectively. We increase our FY26E EPS estimate to INR 19.03 (previously INR 17.7) and assign a PE multiple of 30x to arrive at a target price of INR 570 (previously INR 531). Given the 29% upside from current levels, we retain our "BUY" rating on Fineotex Chemicals Ltd."

3. Accumulate Anupam Rasayan Shares: KR Choksey has assigned accumulate call to Anupam Rasayan shares. According to the analyst, "currently, the stock is trading at a PE multiple of 46.1x and 31.7x based on FY25E/FY26E EPS, respectively. We introduce FY26E estimates; expect FY23-FY26E revenue CAGR of 13.7% and corresponding Adj. PAT CAGR of 18.8%. We apply a PE multiple of 35.0x to our FY26E EPS of INR 28.8 and arrive at a target price of INR 1,008 (INR 990 previously).

Accordingly, we maintain our rating on the stock as ACCUMULATE, with a potential upside of 10.41%.

Last trading price of Anupam Rasayan on BSE is Rs 940.85 apiece with intraday gain of 2.17%. The 52-week high price of Anupam Rasayan shares on BSE is Rs 1249.75 apiece and 52-week low price is Rs 633.95 apiece, respectively. The company has a market capitalisation of Rs 10,323.29 crore. Anupam Rasayan shares surged 4% in last 1-week and declined 7% in last 6-months. In last 1-year, Anupam Rasayan stock zoomed 47%. The company operates in specialty chemicals industry.

4. Buy Deepak Nitrite Shares: Shilpa Rout of Prabhudas Lilladher has recommended investors to buy Deepak Nitrite shares. Current market price of Deepak Nitrite shares on BSE is Rs 2304.70 apiece with intraday fall of 1.47%. The specialty chemicals company has a market capitalisation of Rs 31,424.50 crore. Deepak Nitrite shares gave return of 16% in last 6-months and 28% in last 1-year. In last 5-years, Deepak Nitrite stock zoomed 963%.

The analyst has suggested a likely surge to Rs 2400 to Rs 2450 apiece and recommended investors to keep stop loss at Rs 2250 apiece for futures trading. The 52-week high price of Deepak Nitrite shares on BSE is Rs 2520.00 apiece and 52-week low price is Rs 1757.80 apiece, respectively.

Disclaimer: The stocks have been picked from the brokerage report of Motilal Oswal, KR Choksey, and Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.