Ather Industries, a manufacturer of specialty chemicals, has been maintained by domestic brokerage HDFC Securities with a “buy” rating and a target price of Rs. 1,121, with an expected potential gain of 24% from its ongoing levels.
The note said, “We hold our purchase rating on Ather…capability extension based development driven by cutting edge Research and development capacities, specialized administration, market administrative role across the vast majority of its, areas of strength for items pipeline and marquee client base.” on the basis of.”,
Saudi Aramco Technologies Company and Ather Industries have agreed to manufacture and market the convergence polyols technology and product line.
For this purpose, Ather Industries and Saudi Aramco Technologies have signed a letter of intent (LOI).
The brokerage is of the opinion that this partnership will make it possible for Ather to construct the required infrastructure, interact with its customers, obtain approvals, and commercialize the product in the years to come.
Ather will increase its wallet share with Saudi Aramco as a result of the addition of this contract.
According to HDFC Securities, Ather has the expertise and capability to retain its current customers, increase its wallet share, and acquire new ones. Ather is well-positioned to sign numerous more contracts of this kind because it has increased its capacity and tripled its R&D infrastructure.
Aether Industries expects to make between 150 and 200 crores of dollars from this agreement, which was developed and validated by Saudi Aramco Technologies and Ather on a pre-commercial scale.
During the most recent couple of years Ather is chipping away at Packs (Agreement Exploration and Assembling Administrations) plan of action with Aramco.
According to the company, Ather will commercialize and manufacture similar products under the exclusive or contract manufacturing business model using the CRAMS model.
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