Vinati Organics Limited - VINATIORGA is a global leader in ATBS (a niche monomer), with 45% market share. ATBS is used in enhanced oil recovery (EOR), and for manufacturing specialty polymers in water treatment, construction chemicals, paper and paints. VOL is the only ATBS maker that produces its own IB, a key RM. It also makes IBB, a key upstream product in Ibuprofen synthesis. HDFC Securities initiate coverage with a BUY on VOL. TP is Rs 656 valuing VOL at 20x FY18E earnings.Trendlyne has 6 reports on VINATIORGA updated in the last year from 4 brokers with an average target of Rs 555.8.Brokers have a rating for VINATIORGA with 1 price downgrade and 1 price upgrade in past 6 months.