Multibaggers of 2022: Top 10 chemical stocks that attracted investors with spectacular returns!

Hundred per cent of foreign direct investments (FDI) is allowed in the chemical industry, which the government recognises as being crucial to the expansion of the Indian economy.

The year 2022 was unquestionably a bearish one for markets, with India's benchmark indices BSE Sensex and Nifty 50 rising by only about 3 per cent. Investor confidence was lacking as a result of surging inflation, interest rate hikes, a gloomy economy and a worsening Covid situation. 

Contrarily, amid challenging market conditions, the chemical sector continued its trend of producing a significant number of multibaggers. Here is a list of the top 10 chemical sector multi-baggers that impressed investors with their outstanding returns!  

The chemical industry in India significantly boosts the national economy. India is the world's third-largest consumer of polymers and the fourth-largest producer of agrochemicals. India is ranked sixth in the world for chemical imports and eleventh for chemical exports, excluding pharmaceutical products.  It is much diversified, spanning more than 80,000 commercial products. 

Hundred per cent of foreign direct investments (FDI) is allowed in the chemical industry, which the government recognises as being crucial to the expansion of the Indian economy. By 2025, the industry is expected to receive investments totalling Rs 8 lakh crore. Over two million people are employed in the chemical industry in India. With a budget allocation of Rs 18,100 crore over five years, the government launched the production-linked incentives (PLI) scheme in 2021.   

Stay tuned to know more about the prospects of various sectors and the potential multi-baggers in those areas!