Multibagger chemical stock down 16% in 2022 to this point. Analysts say ‘Buy’ when Q3 results.
PI Industries’ sales within the third quarter were earlier than estimates despite adverse climate within the domestic market because the CSM business continuing to perform well. The development in profit margin suggests that the corporate was able to die the upper input prices in each domestic and export segments, same JM money during a note post the company’s Q3 results.
“PI Industries’ target diversification off from agrochemicals is visible in its efforts to manufacture electronic chemicals together with different fine/specialty chemicals. Whereas we tend to do agree that its company acquisition is unfinished for over a year, we tend to draw comfort from its CSM business, that continues to produce a stable and sturdy growth outlook,” the brokerage same whereas maintaining its purchase rating on the multibagger stock with target worth,620 (from ₹3,675 earlier).
“Although there’s still no clarity on the company acquisition, the brokerage attracts comfort from its CSM business, which, with a strong order book, continues to produce a stable and sturdy growth outlook. With the acquisition overhang, the stock is at a major discount to its peers despite its long-run growth visibility,” the brokerage note highlighted.