BUZZ — India's Gujarat Fluorochemicals a key battery materials supplier, says ICICI; ups rating

* Shares of specialty chemicals company Gujarat Fluorochemicals up 2.13% at 4,647.70 rupees--highest level in four weeks * ICICI Securities upgrades rating of stock to "buy" from "add", hikes TP to 5,380 rupees from 5,050 rupees * Brokerage says company GUJL enjoys a distinct first-mover advantage with the largest battery chemicals portfolio in India * "GFL is capable of addressing 70% of the total value (cost) requirement for LFP batteries, establishing the company as a critical player in the evolving non-Chinese global supply chain" --ICICI Securities * Co benefits immensely from in-house access to critical hydrofluoric acid used in production of several battery materials along with its expertise in processing fluorine chemistry and managing high-temperature calcination * 15 analysts on average rate the stock "buy", median TP of 4,860 rupees--LSEG-compiled data * YTD, shares up 26.42% (Reporting by Saikeerthi in Bengaluru) ((Saikeerthi@thomsonreuters.com;)