Waiting for positive economic sentiment to rebound, says Sheela Foam

Sheela Foam stock almost doubled from its issue price. In an interview to CNBC-TV18, Rahul Gautam, MD of Sheela Foam spoke about the latest happenings in his company and the sector.

Gautam said demonetisation and goods and services tax (GST) is behind us but the implementation issues continue.

He further said that rains have been near normal and wedding season is on, so things should look good. However, waiting for positive economic sentiment to rebound, he added.

On TDI front, he said currently the price of toluene di- isocynate (raw material for foam) is at 11-12 percent of cost of production.

According to him, average price of TDI has moved 50 percent up in the last one year.

Watch accompanying video for more details.