The company’s shares have been hitting back-to-back upper circuits with robust volumes for the last few days.

Once touted as top gainers during the corona virus pandemic period, chemical stocks now face a prolonged downturn, offering reduced valuations that attract investors. Mandar Wagh delves into the industry’s downturn, current financial performance and future prospects to assess if investing in these stocks as a contrarian bet is wise. 

Shares of the company gained more than 12 per cent in the last six months.    

In the six months, the stock has gained more than 70 per cent.  

The first quarter of FY22 saw an increase in revenue of 115 per cent compared to the same period a year before, as well as an increase of 12 per cent compared to the previous quarter.

The stock has surged more than 15 per cent in a week. 

The export-oriented sectors like information technology and pharmaceutical stocks perform well. However, this time around, there is another sector that has caught investors’ interest.   

Analysts and investors are placing their bets on India's speciality chemical industry, which is anticipated to profit from the current international circumstances greatly. The market for speciality chemicals is migrating to India as a result of the Russia-Ukraine crisis and its effects while Indian businesses are well-positioned to benefit from this development. An added advantage is the decline in the rupee.