Why Brokerages are Bullish on Fine Organic

  • Investing.com
  • Stock Market News
Why Brokerages are Bullish on Fine Organic

By Aditya Raghunath

Investing.com -- Fine Organic Industries Ltd (BO: FINO ) is a specialty chemicals company. It is a leading producer of specialty additives for foods, plastics, rubbers, paints, inks, cosmetics, coatings, textile auxiliaries, lubes and several other specialty applications.

It also produces oleo-chemical based food and is setting up a joint venture facility in Thailand with Oleofine Organics Thailand Co. (OFT) and Oleofine Organics Sdn. (OFM) – Malaysia.

“Once the JV is set up, the company would have easier access to its primary raw material, palm oil – Indonesia, Malaysia, and Thailand are the major (88%) producers of palm oil globally,'' Motilal Oswal (NS: MOFS ) said in a note. The brokerage has a target of Rs 3,143 on the stock. The stock closed today at Rs 2,761.85.

HDFC (NS: HDFC ) Securities is also bullish on the stock with a target price of Rs 3,480. In a report it said its call is “based on (1) constant focus on R&D, (2) diversified product portfolio, (3) capacity-led expansion growth opportunity, and (4) leadership in oleo-chemical based additives in the domestic and global markets with a loyal customer base.”

The company’s net sales for Q1 FY22 were Rs 357.57 crore, up 48.98% from Rs. 240.01 crore in June 2020. Net profit came in at Rs. 35.91 crore compared to Rs. 28.63 crore in June 2020, up 25.43%.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
  • shalini tiwari @shalini tiwari
    पापी
    Like 0
    • Ashwani Vashisht @Ashwani Vashisht
      what?
      Like 0
    • Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

      Error: File type not supported

      Drop an image here or

      100

Related Articles