# ICICI Securities initiated coverage with a buy rating and a target price of Rs 515.

*business · news · 2026-04-13 · NDTV Profit*

## Key points

- ICICI Securities initiated coverage of Sumitomo Chemical India with a buy rating and Rs 515 target.
- Sumitomo Chemical India benefits from proprietary technology and products via its Japanese parent.
- The company plans to invest up to Rs 400 crore in capacity expansion over the next few years.
- Sumitomo Chemical India launched 13 products in three years and plans five to six more in FY26.
- Returns on capital employed exceed 18% with low leverage, indicating strong financial health.

**Companies:** ICICI Securities, Sumitomo Chemical India Ltd
**Countries:** India, Japan

[Read the full story on NDTV Profit](https://www.ndtvprofit.com/markets/sumitomo-chemical-india-shares-in-focus-after-icici-securities-initiates-buy-rating-check-target-price-11348940)

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