Dhanuka Agritech Ltd shares gained 1.6 per cent as HSBC initiated coverage with a "buy" rating and a target price of Rs 800.
Dhanuka's product portfolio is focused on herbicides and fungicides, the high-growth segments of India's crop protection market, it said.
Herbicides and fungicides are set for faster growth as more farmers switch to agrochemicals, it added.
The stock has 8 'buy', but nil 'hold' and 'sell' ratings.