D-Street turns positive on PI Industries, UPL, Coromandel as revenues rise

PI Industries, UPL are better placed, given pick-up in global demand after a two-year downturn

Stocks of agrochemical companies UPL, PI Industries, and Coromandel International are hitting their 52-week highs, while peers such as Insecticides (India) and SRF are close to their yearly highs on improving revenue outlook.
 
Sentiments, which were earlier subdued due to the soft sowing start in the Rabi season and continued weak global agrochemical demand, have started turning in favour of crop-care companies.
 
In the domestic market, analysts expect improved crop prices and anticipated government thrust in the election year to drive farmers’ income.
 
Analysts at the IIFL say that prices for crops such as corn were up