Specialty chemical stocks are on the rise due to weak rupee and a surge in global demand
Updated: 29 Jul 2022, 10:48 AM IST
TL;DR.The weaker rupee, supply interruptions, the China+1 strategy, and an increase in global demand have all aided the Speciality chemical sector. China constitutes about 20% of the global speciality chemical industry ($800 billion), even a 5% shift in market share from China to India can translate to an $8-billion opportunity.
SRF posted strong numbers for Q1FY23 and beat analyst expectations. The company's revenues were up 44% YoY to ₹3894.7 crores in Q1FY23, led by the chemical segment, which was higher by 55% YoY to ₹1722.4 crores.