Sudarshan Chemical jumps 19% on rival's bankruptcy
"Sudarshan Chemical stands to gain meaningful share in the export as well as domestic markets," said Sandeep Abhange, research analyst at LKP Securities.
Mumbai: of , a pigments supplier, surged as much as 19% Tuesday after its German competitor filed for . The closed at ₹717.5 on the BSE, up 14.06% over Monday close.Analysts said Sudarshan is expected to benefit from the bankruptcy of Heubach GmbH, the second-largest global pigments player.
"Sudarshan Chemical stands to gain meaningful share in the export as well as domestic markets," said Sandeep Abhange, research analyst at LKP Securities.
"Sudarshan Chemical is currently the third-largest global pigment player with newly-commissioned capacities in FY23 with an industry-leading 35% market share in the domestic market."
The stock has returned about 30% in 2024 so far.
Source: Stocks-Markets-Economic Times
