Speciality chemical stock, Acutaas Chemicals, has given stellar rewards to its investors, and it may not be done yet. Brokerage firm JM Financial sees further upside in the stock from the current levels.
On Thursday, 10 September, Acutaas Chemicals share price ended 6.74% higher at ₹3,451.25 on the BSE, extending gains for the second consecutive session. According to JM Financial, the stock has a potential to rise to ₹3,800 in the next 12-months. This implies an upside of 10% from the current market price of ₹3,451.25.
Acutaas Chemicals is a multibagger stock. Over the last one year, the stock has surged 137% on the BSE, compared to an 8% fall in the benchmark Sensex.
On longer timeframes of two and three years, the stock has surged 383% and 419%, respectively, as per the BSE data.
Acutaas Chemicals share price hit a 52-week high of ₹3,735 on 6 July this year after hitting a 52-week low of ₹1,290.05 on 1 October last year.