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Specialty chemicals stocks have been gaining for the last few weeks due to rising prices in the global markets.This run-up is a temporary seasonal effect and
Vinati Organics stock has given a return of 6.43 percent over the last six months. The benchmark Nifty50 index has surged by 17.76 percent over the same duration.
Brokerage say it is wrong to interpret the rise in chemical stock prices as an indication of recovering demand. They say the spike in chemicals prices has stretched valuations even more for most stocks within the sector.
They believe that the factors that are driving the recent rally in the stocks may be short term
Deepak Nitrite, incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 31189.00 Crore) operating in Chemicals sector.