Kotak flags 'soft' earnings for Indian chemical companies for next 1-2 quarters

Atul

27/09/2023 07:52

** Kotak Institutional Equities expects Indian chemical
companies to report soft earnings for the next 1-2 quarters
    ** Export prices of key products of Atul  ATLP.NS , Clean
Science and Technology  CLEA.NS  and Vinati Organics  VNTI.NS 
are soft - Kotak
    ** Brokerage flags factors such as pressurised soda ash
import prices, challenged demand-supply at the world level; says
price uptick in China likely to be short-lived 
    ** Raises concerns over upcoming Rabi season on reduced
reservoir levels, hurt by weak August monsoons, and about
overcapacity in China 
    ** Brokerage, however, says normalization of farmer
profitability expected to moderate demand for agrochemical
products
    


 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))