Astral share price slips 10% after demerger announcement. Should you buy or sell?

Astral shares declined nearly 10% to ₹1,339 on the BSE after the company announced a composite scheme of arrangement to demerge its chemicals business into a separately listed entity, Astral Chemie Ltd, with a 1:1 share entitlement ratio. The scheme also includes amalgamation of its 100% subsidiary Al-Aziz Plastics into Astral Ltd. Despite the sharp pullback, Equirus Securities maintained a 'Long' rating with a June 2027 target of ₹1,980, implying around 33% upside, while flagging near-term valuation overhang post-listing.