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Shares of <keyword id="562357" type="DOMAIN" weightage="20" keywordseo="Fineotex-Chemical">Fineotex Chemical</keyword> have surged over the past two days after <keyword id="8190540" type="COMPANY" weightage="20" keywordseo="Nippon-India-Mutual-Fund">Nippon India Mutual Fund</keyword> picked up nearly six per cent stake through the open market. On Tuesday, its shares on the BSE hit a 52-week high of Rs 62.15 per share. Around 11.10 a.m., shares of Fineotex Chemical were trading at Rs 59.65, higher by Rs 5.55 or 10.26 per cent from its previous close. On Monday, <keyword id="8189941" type="COMPANY" weightage="20" keywordseo="Nippon-India-MF">Nippon India MF</keyword> acquired over 66 lakh equity shares for nearly Rs 30 crore through bulk deal on the BSE, according to exchange data. The mutual fund bought shares at a price of Rs 45.25 per share. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/house-passes-bill-to-increase-600-stimulus-checks-to-2000/articleshow/80001571.cms" data-type="tilCustomLink">House passes bill to increase $600 stimulus checks to $2,000. It now goes to the Senate.</a> <a href="https://www.businessinsider.in/science/news/most-vaccine-skeptics-are-persuadable-and-will-get-the-covid-19-shot-says-a-nobel-prize-winner-who-studies-vaccine-hesitancy/articleshow/79995460.cms" data-type="tilCustomLink">Most vaccine skeptics are persuadable and will get the COVID-19 shot, says a Nobel prize-winner who studies vaccine hesitancy</a> <a href="https://www.businessinsider.in/stock-market/news/bitcoin-mining-stocks-surge-after-the-cryptocurrency-passes-28000-for-the-first-time/articleshow/79996286.cms" data-type="tilCustomLink">Bitcoin-mining stocks surge after the cryptocurrency passes $28,000 for the first time</a>

Fineotex Chemical share hits all-time high after Nippon India Mutual Fund buys 6.6 million shares

<ul><li>While a weak rupee is a red flag for the economy, it is a good opportunity for such export- oriented companies.</li><li>Analysts and investors are betting on India’s specialty chemical sector, which is expected to benefit immensely from the current global conditions.</li><li>Moreover China Plus One’ strategy provides a $8 billion opportunity to the Indian speciality <keyword id="3576682" type="General" weightage="20" keywordseo="chemical-companies" source="Orion">chemical companies</keyword>.</li></ul>The Indian rupee’s consistent weakness against the US dollar has been rattling the markets and the wider economy. While export-oriented sectors like information technology and pharmaceuticals are the traditional beneficiaries of a weak rupee, this time around, there is another sector that has caught investors’ interest.. Analysts and investors are betting on India’s specialty chemical sector, which is expected to benefit immensely from the current global conditions. The Russia-Ukraine conflict and its fallout is seeing the demand for specialty chemicals shifting to India, and Indian companies are well-positioned to take advantage of this situation. The rupee’s slide is an added bonus. Rising crude oil prices, interest rate hikes across central banks and the continuous outflow of liquidity from the market has dragged the rupee to its lowest at 79.37 against the US dollar. The misery doesn’t end here, as experts see the rupee weakening to as low as 82 against the greenback. While this is a red flag for the economy, it is a good opportunity for such export- oriented companies. “A wide range of sectors which are dependent on export will benefit from this (rupee fall) - it will particularly help industries like software and textiles where the dependency on imported raw materials is limited. Speciality chemicals is the next emerging export sector within the country and even some export-oriented automobile companies are likely to benefit,” said Manoj Dalmia, founder and director at Proficient Equities. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Specialty chemicals stocks preferred by analysts </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price for 12-month </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aarti Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Atul Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹11,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NOCIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹348 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SRF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,800 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sudarshan Chemical </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹550 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vinati Organics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,450 </td></tr></tbody></table>(source: Sharekhan Research) Besides, some of the client demand is shifting from Europe to India as companies there are temporarily shutting down due to energy shortage. “Speciality chemicals should do well because stocks have corrected in the last 6-8 months and (also) because of energy shortage, especially gas in Europe. Hence, recently a lot of <keyword id="9568107" type="General" weightage="20" keywordseo="specialty-chemical-companies" source="Orion">specialty chemical companies</keyword> are either shutting down temporarily or working at a much lower capacity there. And so, India is turning out to be an emerging leader in this sector,” Ambareesh Baliga, an independent market analyst told Business Insider. An $8-billion opportunity India’s specialty chemicals sector is well poised to capitalise on global tailwinds and expand its global market share to 7-8% in the next few years from 4% currently, says a report by Sharekhan. This is mainly due to the ‘China Plus One’ strategy, which is the business strategy to avoid investing only in China and diversify business into other countries. Thus, clients of Chinese companies are shifting their businesses to Indian markets. “We remain bullish on the structural growth opportunity in the specialty chemicals in light of a solid demand environment and market share gains even in the midst of uncertainty arising from China,” said analysts at Edelweiss Research. Since China constitutes about 20% of the global specialty chemical industry ($800 billion), even a 5% shift in market share from China to India can translate to an $8-billion opportunity for the Indian speciality chemical companies, says a report by Sharekhan. Players such as Galaxy Surfactants, Rossari and Fineotex Chemicals are seeing solid demand from user industries like textile, FMCG, etc, along with market share gains in the global market, says a report by Edelweiss. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/indias-biggest-companies-spend-nearly-11-lakh-crore-on-employee-expense-last-year/articleshow/92690317.cms">If you thought techies got the biggest hikes last year, think again...</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/infy-lic-reliance-and-6-more-stocks-that-mutual-funds-are-going-long-on/articleshow/92693363.cms">Infosys is the most favourite mutual fund stock – find out the eight others</a>

Specialty chemical sector is the new investor darling thanks to a weak rupee & global demand

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Fineotex Chemical share hits all-time high after Nippon India Mutual Fund buys 6.6 million shares

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Specialty chemical sector is the new investor darling thanks to a weak rupee & global demand

Bhakti Makwana

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