After gaining 47 per cent since the start of the year till mid-March, the Astral Poly Technik stock has lost steam over the last month, shedding some of the gains. While the near-term outlook for the plastic pipe major remains strong, expected correction in polyvinyl chloride (PVC) prices and high valuations are weighing on the stock.
From its lows last year, the prices of PVC have almost doubled due to global supply shortages and are currently hovering at Rs 130. This led to higher realisation and inventory gains for companies in the sector. Analysts however believe that the sharp ...
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