Aarti Industries was another major player in the chemical industry which gained from reports of power outages in China. Moreover, specialty chemical stocks have been on the radar of investors as analysts are bullish on the sector considering the “China plus one” strategy and now the power shortage crisis leading to lower production.

Analysts see a strong growth trajectory from huge opportunities for the chemical space.

“We find the business scalable, led by aggressive investments on capacity and capability (research & development, talent) and favourable macro factors. We see limited upside for our near-term growth estimates, but the company can surprise in the longer term, given its aggressive investments in new growth engines,” said Kotak Securities, reportedly initiating a ‘Buy’ rating on the stock.