India's chemical industry growth in 2024 likely to be modest - Kotak

SRF

02/01/2024 06:40

** Kotak Institutional Equities says exuberance around
interest rate cuts, supply issues on chemical stocks could wane
as sector still has growth issues in 2024
    ** Some stocks like Atul  ATLP.NS , Aarti Industries
 ARTI.NS  , Rallis India  RALL.NS , SRF  SRFL.NS , Tata
Chemicals  TTCH.NS , National Fertilizers  NAFT.NS , Godrej
Agrovet  GODE.NS  have rallied between 7%-17% in December
    ** Current data around chemical demand and pricing remains
soft, demand still weak - brokerage
    ** 2024 outlook for crop commodities is quite mixed with low
reservoir levels in India and lower agri commodity prices in
U.S., Kotak says 
    ** Import prices into India remain weak, as do export prices
out of the U.S. - brokerage 

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))