The Indian stock market is dominated by sellers on Thursday as well. The Nifty and the Sensex, two important benchmarks, are both down Thursday. In the meantime, international investment bank Morgan Stanley has released its most recent analysis of India’s chemical industry. Morgan Stanley believes that investors should proceed with a cautious and selective approach in this area, given the difficult market conditions.
Non-agrochemical commodity chemicals, which the brokerage views as a comparatively better-positioned section than other categories within the industry, showed some promise for recovery.
Morgan Stanley maintained a modest level of confidence for 2025 despite acknowledging some early indications of demand stabilization. The firm also warned that the sector’s earnings have not yet bottomed out. Because it can better withstand the current market conditions and take advantage of potential future growth, Deepak Nitrite continues to stand out among its stock selections.
Deepak Nitrite Share Price
Morgan Stanley has cut the target price of the stock from Rs 3295 to Rs 3000, although it has kept its overweight rating on the chemical business Deepak Nitrite.
To let you know, Deepak Nitrite’s stock is currently trading at Rs 2656 on Thursday, down 0.6 percent.
Morgan Stanley favors Deepak Nitrite stock because it has the ability to bounce back and has relative strength in spite of the industry’s numerous difficulties. Despite market challenges, Deepak Nitrite stock appears to be well-positioned to take advantage of the potential for long-term growth in the chemical industry.
Q2 Highlights Of Chemical Industries
The performance of chemical companies in the second quarter revealed a number of challenges. Another round of earnings cutbacks and outlook resets resulted from Morgan Stanley’s observation that incumbents lacked strong price and margin levers. Despite the fact that earnings are nearing a trough, there is still little reason for optimism regarding the sector’s prospects for 2025.
