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ICICI Securities initiated coverage with a buy rating and a target price of Rs 515.
ICICI Securities initiated coverage of Sumitomo Chemical India with a buy rating and Rs 515 target.
KEY POINTS
- 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
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