China's Pain Is India's Gain as Chemical Stocks Surge to Record
- Analysts say wait for better price entry as valuations frothy
- Sector poised to become $87b opportunity by FY25: Edelweiss
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Makers of specialty chemicals in India have become the darling of investors this year. Analysts are proving harder to please.
A custom index of five stocks -- Aarti Industries Ltd., Fine Organic Industries Ltd., Galaxy Surfactants, PI Industries Ltd. and SRF Ltd -- has risen 30% to a record as Indian manufacturers step in to meet shortages due to shutdowns in China. In comparison, only 13 of 19 sector gauges compiled by the BSE Ltd. are in the green, with an index of consumer appliances posting a year-to-date return of 25%.