Clean Science Technologies and Anupam Rasayan were buzzing in trade on August 30.

Sonal Bhutra reports that Motilal Oswal has initiated coverage on Clean Science Technologies with a buy rating. It expects the company's revenues to grow at a CAGR (compound annual growth rate) of 23 percent over next three years.

Its EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin is likely to remain robust at 49 percent, with gross margin at 70 percent over FY21-24. The chemical manufacturing firm has a target price of Rs 1700 per share for the stock.

Also Read: Clean Science and Technology IPO: 35% revenue from exports to China, says management

Meanwhile, Anupam Rasayan has received and signed a letter of intent (LOI) worth Rs 135 crore with Japanese multinational chemical company for supplying a life sciences-related speciality chemical product for four years.

Also Read: Anupam Rasayan won’t go for capex for 1-2 years, expects similar growth trajectory to continue

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(Edited by : Kanishka Sarkar)