The brokerage has revised its target price upwards for the stock to ₹505 per share (earlier ₹400 per share). Apart from Sumitomo Chemicals, in its chemical coverage, ICICI Securities said it also likes another chemical company, Neogen Chemicals. ''Trigger for Neogen Chemical’s future revenue growth would be increasing CRAMS opportunity,'' the brokerage said in the note. The brokerage has a 'Buy' for Neogen Chemicals with a target price of ₹1,085 per share. The company reported revenue growth of 20.7% year-on-year (YoY) to ₹782 crore, led by higher growth from herbicide segment (up 67.2% YoY).

Source: Mint August 09, 2021 07:50 UTC