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Acutaas Chemicals jumps as JM Financial sets ₹3,800 target

JM Financial’s buy call implies about 10% upside from Acutaas Chemicals’ ₹3,451.25 close on the BSE, after the stock rose for a second straight session.

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Acutaas Chemicals shares extended gains on the BSE, rising 6.74% to close at ₹3,451.25 on 10 September, marking the second consecutive session of increases, according to LiveMint Markets.

JM Financial has resumed coverage on the specialty chemicals firm with a buy rating and a 12-month target price of ₹3,800, which it said implies roughly 10% upside from current levels.

Over the past year, the stock has surged 137% on the BSE, outperforming the Sensex’s 8% decline, and reached a 52-week high of ₹3,735 on 6 July.

The brokerage pegged its target at 45 times September 2028E EPS and pointed to sustained earnings growth, including a projected 28% CAGR in the CDMO business over FY26 to FY30E, plus expanding contributions from newer businesses such as electrolyte additives, semiconductors, and electronic chemicals, LiveMint Markets said.

Latest closeSensex 72,638.70 ▼0.6%

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