Mumbai: Shares of Sudarshan Chemical, a pigments provider, surged as a lot as 19% Tuesday after its German competitor filed for chapter. The inventory closed at ₹717.5 on the BSE, up 14.06% over Monday shut.
Analysts mentioned Sudarshan is anticipated to learn from the chapter of Heubach GmbH, the second-largest international pigments participant.
“Sudarshan Chemical stands to realize significant share within the export in addition to home markets,” mentioned Sandeep Abhange, analysis analyst at LKP Securities.
“Sudarshan Chemical is at the moment the third-largest international pigment participant with newly-commissioned capacities in FY23 with an industry-leading 35% market share within the home market.”
The inventory has returned about 30% in 2024 thus far.
