This multibagger stock from specialty chemical space has risen over 300% this year1 min read . Updated: 10 Sep 2021, 10:30 AM IST
- The multibagger stock has surged from ₹160 level in early January, to currently trading at around ₹645 apiece
With Indian markets hitting new record highs, many stocks from various sectors have outperformed and delivered multibagger returns this year. Among which specialty chemical stocks have led the theme amid improved outlook, demand uptick, and rising realisations. Chemical industry company Yasho Industries is one such multibagger stock from the sector.
Shares of Yasho Industries have skyrocketed over 392% in one year and the multibagger stock from the specialty chemical space has rallied more than 300% this year (year-to-date or YTD) alone. From around ₹160 level in early January, the stock currently trades at around ₹645 per share (as per Thursday's closing price).
Yasho Industries Limited manufactures a varied range of chemicals. These chemicals primarily serve five key industry categories – Specialty Chemicals, Aroma Chemicals, Food Antioxidants, Rubber Accelerators and Lubricant Additives. Its manufacturing units are situated at Vapi, Gujarat with a combined capacity of 9,200 MTPA.
Yasho Industries is a leader in the segment of food antioxidants and Aroma chemicals, and an emerging player in Rubber and Specialty chemicals. The company has grown the business by serving the domestic and global markets from the widespread international operations across 42 different countries across Europe, America, Middle East, and Asia. The company’s shares are listed on the BSE under the SME category.
Speciality chemicals manufacturers have been in focus for a while now, with rising demand and realisations. The companies have seen significant improvement in profitability and earnings over the last one year. Brokerages are bullish on the sector with a positive outlook as they expect India’s share in the specialty chemicals to double over the next five years.
The chemical sector has created impressive wealth for the investors in the last five years as most of the stocks have turned multifold. The sharp upmove, as per analysts, can be attributed to the improved outlook and the fact that covid pandemic has accelerated the shift away from China to other countries.
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