- Shares of Gujarat Fluorochemicals have gained 274 per cent in one year.
- The company is well positioned due to its presence in the fluoropolymer segment.
- ICICI Securities said the stock is likely to rise 50 per cent more
ICICI Securities said the share price is likely to rise 50 per cent, citing rising demand for polymers due to the use of polymers in the new-age verticals of batteries, solar panels and green hydrogen.
The brokerage said the stock is trading at 20 times the Fair P/E multiple in FY2024, compared to 42.1 times for Navin Florin and 27.5 times for SRF. Gujarat Fluorochemicals’ earnings are expected to grow at an all-time low of 45.9 per cent year-on-year as compared to FY21-24 and return on capital employed (ROCE) (after tax) to grow 6.7 per cent to 18 per cent per annum. Percent
ICICI Securities has released Rs. A target of 3,086 has been given.
It is noteworthy that in November, Anand Rathi invested Rs. With a target of 2,524, the company has made a name for itself in the fluoro-chemical business and is poised to find a market for futuristic products such as electric vehicles, with continued gains in the troubled sector.
KR Choksey (Institutional Research) also said on November 12, “We believe that GFL’s core competencies in manufacturing facilities, global presence and integrated plant operations make it one of the most reliable manufacturers of a wide range of fluoropolymers.”