Balaji Amines Opportunity

I think there could be a few reasons:
1.Underperformance of the pharma sector and high dependence of aliphatic amines on pharma could be one of the reasons.
2. Demerger of BSCL from BAL is an overhang, where a better business with higher margins and lesser concentration on a particular sector is getting separately listed.
3. DMF dumping from Saudi Arabia will create a problem for Balaji.
4. Revival in Auto cycle can cause lower realization for acetonitrile.

We have to see if they can sustain these margins, in case any of the pointers play out at a big scale.

Disc: Invested from lower levels