The Hindu Business Line : Syngenta up on growth hopes

Syngenta, which clocked a volume of 15,000 shares on the BSE, has lately been viewed as a stock with a decent dividend yield (Rs 12.5 dividend for 2005).

It is now trading at about 10x 2007 and 8.5x 2008 estimated earnings of roughly Rs 27 and Rs 34 respectively. It closed at Rs 316.05 on the BSE, a gain of about three per cent over Monday's close. Week-on-week the stock gained 9.25 per cent, while month-on-month basis it provided a return of 13 per cent.

The company now ranks within the first five agrochem outfits with domestic sales of over Rs 440 crore. Its high-margin seeds business, which grew by 13 per cent last year, is likely to propel further growth.

The company is expected to concentrate on a fast growing segment: vegetable and oilseeds.

It is also seen to gain from its new EoU.

Nilanjan Dey

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