ICICI Prudential Mutual Fund has acquired additional shares of speciality chemical firm Galaxy Surfactants for Rs 124 crore through open market transactions on Tuesday.
ICICI Prudential Mutual Fund bought a 0.83% stake, comprising 2.97 lakh shares in the speciality chemical company for Rs 2,092 per share, according to bulk deal data available on the NSE.
ICICI Prudential Mutual Fund holds a 1.02% stake, comprising 3.59 lakh shares, in the company as of December 2024.
Earlier, on Feb. 15, K Natarajan, the managing director of Galaxy Surfactants Ltd., in an exclusive interview with NDTV Profit, reaffirmed the company’s medium- to long-term volume growth target of 6-8%, while remaining cautious over the near-term outlook.
Shares of Galaxy Surfactants closed 2.15% higher at Rs 2,092.30, compared to the 1.5% decline at the benchmark NSE Nifty 50. It has fallen 11.01% on a 12-month basis.
Nine out of the 15 analysts tracking the company have a 'buy' rating on the stock, five recommend a 'hold' and one suggests a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 33.9%.
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