New Delhi, Oct. 1 -- Galaxy Surfactants share price jumped over 6% on Thursday, 1 October, amid a positive outlook from Nuvama Institutional Equities. The brokerage retained its 'Buy' rating on the stock and raised its target price to Rs.3,265 from Rs.2,927, citing improving profitability, a favourable shift towards oleochemical-based surfactants and a gradual recovery in AMET volumes.

Nuvama also raised its FY27 and FY28 earnings-per-share (EPS) estimates by 13.4% and 11.5%, respectively. The stock currently trades at around 19.3x FY28E EPS, according to the brokerage.

Nuvama expects Galaxy Surfactants to benefit from crude oil prices remaining above $100 per barrel. The brokerage said the industry has undergone a reformulation shift f...