A sustained vaccination drive, which has seen 1 billion Indians get vaccinated, has led to a lowering in severity of cases. The unlocking of business and trade by state governments is leading to a normalisation of demand and spending. While valuations for specialty chemicals continue to look stretched, growth will continue. Duggad, like Vartak, is equally confident about the demand for specialty chemicals and API-led pharma, but finds valuations stretched. With tight cost-focus, less leveraged balance sheets and improving cash flows, corporates are in a better position to start spending on capex.

Source: Forbes November 09, 2021 11:54 UTC