Most agrochemical stocks have showcased weak performance in the past few months, partly due to concerns around channel inventory and the likelihood of sub-par monsoon. PI Industries was also impacted and lost ~20% of its gains, after peaking in Nov’22. For quite some time, PI had been working on inorganic opportunities to enter pharma intermediates, which was a prime catalyst for the stock. Now, with a key step forward in that direction, can the stock pivot with this acquisition?
first published: May 9, 2023 11:43 am
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