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Sudarshan Chemicals To Acquire Heubach's Rs 1,180-Crore Global Pigment Business

Sudarshan Chemical Industries' acquisition of Heubach's global pigment operations is expected to close in three to four months.

Prajwal Jayaraj

Heubach operates in the speciality chemicals industry which consists of organic pigments, inorganic pigments, dyes, dispersions and anti-corrosion pigments. (Representative image. Source: Envato)

Sudarshan Europe BV is set to acquire global pigment business operations of Germany-based Heubach Group for the total amount of approximately Rs 1,180 crore.

Also Read: Sudarshan Chemical Q1 Results Review - Core Business On Steady Growth Path: Dolat Capital

Share price of Sudarshan Chemicals Industry closed 14.81% higher at Rs 1,164.90 apiece on the NSE, compared to a 0.14% decline in the benchmark Nifty 50.

The stock has fallen 112.19% on a year-to-date basis and 143.83% over the past 12 months.

Of the 10 analysts tracking the company, six have a 'buy' rating on the stock, one suggest a 'hold' and three recommend a 'sell', according to Bloomberg data. The average of 12-month analysts' consensus price targets implies a potential downside of 18.2%.

Also Read: Sudarshan Chemical - Rising Opportunity From Industry Shake Up; Fairly Valued: ICICI Securities

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WRITTEN BY
Prajwal Jayaraj
Prajwal Jayaraj covers business news for NDTV Profit. He holds a postgradua... more
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