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Agrochemicals company Sharda Cropchem gained up to 2.1 per cent in morning trade on Monday. IDFC has initiated coverage with "outperformer" rating and a price target of Rs 358. IDFC has said it is the only company after UPL Ltd to secure registrations in Europe and the United States. Sharda has an asset light model with high operating margins as it sources agrochemicals from China, it added. Sharda stock was up 8.9 per cent YTD vs 30.7 per cent surge in the NSE index.
At 11.27 am, the stock was up by Rs 3.15 or 1.25 per cent at Rs 254.75 on the NSE.
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