Multiple growth avenues may give a fillip to Sumitomo Chemical stock

The stock has recovered some lost ground since November, as the Glyphosate herbicide overhang is behind for now

After falling 16 per cent since the government order on sales of herbicide Glyphosate in October this year, the stock of Sumitomo Chemical India recovered a bit since the fourth week of November.

The gains came on brokerage upgrades, given the stay on government order for a period of three months and the favourable risk reward.

In addition to opportunities in India’s generics and specialty products, exports are a major growth driver for the company. The immediate trigger for the stock has been easing of the Glyphosate overhang on the company.

The Centre — through a notification in October —