Buy Pidilite Industries with a target of Rs 770: Geojit BNP Paribas Financial Services

Geojit BNP Paribas Financial Services has Buy call on Pidilite Industries Ltd. with a target price of Rs 770 . The current market price of Pidilite Industries Ltd. is Rs 589.2 . Time period given by analyst is year when Pidilite Industries Ltd. price can reach defined target.
Pidilite Industries is a pioneer in consumer & speciality chemicals in India having a dominant position in the adhesive and sealants business in India with market share of 70%. Robust distribution network and continuous focus on developing new and innovative products will further aid in augmenting market share and strengthen its brand equity. As a result, Pidilite is a strong play on recovery in discretionary spending and thus, we recommend buy.