Faster business recovery reviving investor trust in Pidilite Industries

After almost zero business in April and some recovery in May, June was a month of significant recovery for Pidilite

Pidilite Industries’ June quarter (Q1) results, announced on Thursday after market hours, was not only its worst in many years, but also weaker than the Street’s expectations. Yet, the stock gained 3.4 per cent on Friday when the BSE Sensex closed flat. The management commentary highlighting faster-than-expected business recovery from the Covid-19 shock revived investor sentiment towards the stock, which has underperformed the market in recent times. In the past three months, Pidilite’s stock has risen 2 per cent against the 21 per cent of the BSE Sensex.

After almost zero business in April and some recovery in May, June was