One get to see such anomalies or patterns across all sectors (E.g. HUL vs ITC, TCS vs HCL and so on) and the market discounts certain scrips for reasons which are not explicitly known to everybody
Few things I could think of
-Sumitomo being an MNC and access to formulations, R&D and other assets from the parent company (albeit paying a royalty)
-Access to global markets where Sumitomo Japan would like to leverage India manufacturing capability
-Credibility of the promoters considering Sumitomo a renowned name in Global markets
Disc: Invested in Sumitomo and hence biased
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