Basically, GPIL’s first meaningful capex is at least 15 months away (assuming they get env. clearance today). The performance will be largely driven by realization dynamics. In domestic market the demand scenario appears decent given the growth outlook for India. For international market, it will hinge on growth pick up in China which most of the analyst are betting on. Good to see that even in challenging environment GPIL came up with decent improvement compared to the last quarter. But it seems that the stock price will be driven by prices for its products in international market.
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