0505 GMT - PCBL Chemical stands to benefit from improving global outlook for carbon black demand, Ambit Capital analysts say in a research report. This demand is expected to grow at 4% CAGR to 18.5 million metric tons by 2030, aided by rising consumption in polymers and electric-vehicle applications beyond traditional tire markets, the analysts say. The Indian carbon-black producer is also ramping up efforts in specialty carbon black applications, which offer higher profitability and cater to the growing market of cables and EV batteries, the analysts add. Ambit Capital initiates coverage of the stock with a buy rating and a target price of INR550.00. Shares are 1.8% lower at INR414.50. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 23, 2025 01:05 ET (05:05 GMT)
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