Page 6 - Chemical Sector

Pune: 18 dead in fire at chemical firm, rescuers search for missing staff

At least five workers were killed and a dozen others were missing after a major fire broke out at a chemicalcompany located in an industrial area in Pune district on Monday, officials said. According to the officials from the fire department of PMRDA (Pune Metropolitan Region Development Authority), at leastsix fire tenders were sent to the plant of SVS Aqua Technologies in the Pirangut MIDC area in Mulshi tehsil to douse the flames. "According to company officials, at least17 of their workers were missing after the blaze broke out. "We have so far recovered five bodies and a search for theothers employees is underway," saidDevendra Potphode, chief fire officer, PMRDA Fire Services. He said the firm is into manufacturing, supply and export of air, water and surface treatment chemicals.

Indo Borax zooms 37% in two days after firm announces stock split plan

Generally, a company plans to go for a stock split to make the shares more affordable for small retail investors and increase liquidity

Expensive valuations may cap near-term upside in chemical stocks: Analysts

However, they remain positive on the sector's long-term growth story on the back of ramp-up in China's environmental inspections and specialty chemical players having a healthy margin of safety

Higher chemical prices, ongoing expansion and demand to support SRF stock

While medium term prospects remain strong, the upsides after recent rally are limited

Tech view: Near-term outlook on chemical stocks remains highly bullish

Since the negative divergence of the Relative Strength Index (RSI) has not been able to dampen the upside bias, the inherit strength is growing stronger in Tata Chemicals, charts show

Tamilnadu Petroproducts to execute projects worth over Rs 400 crore

Tamilnadu Petroproducts' projects include increasing Linear Alkyl Benzene (LAB) capacity from 120,000 TPA to 145,000 TPA at an estimated cost of about Rs 240 crore

Chemicals major Sanmar plans to raise equity to repay restructure debt

Despite the pandemic disruptions, based on provisional IFRS estimates, for the year ended December 31, 2020, Sanmar chemicals' revenue was flat at around $700 million

Deepak Nitrite: Analysts see further upside despite 135% rally in 6 months

Deepak Nitrite got a shot in the arm on Thursday when the government announced to extend anti-dumping duty on phenol exported from the European Union and Singapore till June 7, 2021

Tata Chem, Alkyl Amines: These chemical stocks may rally another 25%

With the Tata Chemicals' stock continuously witnessing buying momentum in the overbought condition of Relative Strength Index (RSI), the strength remains intact

Advent to buy controlling stake in ZCL at enterprise value of Rs 1,700 cr

Advent is a private equity fund

Specialty chemical sector has huge growth potential: Sadananda Gowda

Chemicals & Fertilizers Minister D V Sadananda Gowda on Tuesday said it is a good time to invest in India's chemical sector that has huge growth potential. Gowda was addressing a webinar on Specialty Chemical organised by Department of Chemicals & Petrochemicals and FICCI, an official statement said. The minister said it is a good time to invest in India when the government is focussing on self-sufficiency in domestic production. Gowda said specialty chemicals is one of the areas where huge potential for growth lies. The past couple of decades have seen a significant shift in the manufacturing of chemicals, particularly the specialty chemicals from EU and North America, to Asia. The Indian Chemical and Petrochemical industry has huge potential to play a significant role by 2025 and the sector can alone contribute USD 300 billion to the GDP as compared to USD 160 billion at present, the statement said. Gowda said India is looking forward to incentivising manufacturers, through .

RBI debt restructuring scheme to benefit resilient sectors more: Crisil

Crisil said it studied its rated portfolio of more than 8,500 companies after sorting them by rating, sector and moratorium availed

Discretionary exposure to keep growth under pressure at BASF India

The agrochemicals segment, however, should be able to offset some of the growth challenges

In focus: Mangalam organics hits 52-week high, Gujarat Alkalies leaps 10%

Chemical stocks jumped after the government extended anti-dumping duty on imports of caustic soda from China and Korea till November 2020 to guard domestic manufacturers

BASF India Q1 net loss widens to Rs 29.15 cr, revenue up at Rs 1,769.7 cr

Net revenue rose to Rs 1,769.7 crore in April-June quarter of fiscal year 2020-21 from Rs 1,613.7 crore in the corresponding quarter a year ago

Chemical stocks extend rally; GHCL, Phillips Carbon surge 29% in a week

Navin Fluorine International, Neogen Chemicals, and Ultramarine & Pigments hit their respective 52-week highs today

8 dead, 50 injured as blast in boiler causes fire in Gujarat factory

As companies of methanol and xylene chemicals are located near the affected factory, authorities have shifted about 4,800 people from nearby Luvara and Lakhigam villages to safer places

From SRF to Aarti, exporters better placed in speciality chemical segment

Given the essential nature of production, some plants are exempted from the lockdown

Working capacity at 25% may be unviable as industry awaits end of lockdown

Auto component vendor Nippon Paint India said that at 25 per cent capacity, it will not even meet plant overhead costs, leave alone company overheads.

Govt's crucial move towards nursing 5 sectors back to health amid lockdown

These five sectors are textiles, chemicals, electronics, steel and pharmaceutical