The upcycle will take time ,on a recent interview nikhil kamath with cnbc told us that the entrepreneur he has been talking to all are saying that demand for goods has been falling and on top of that we are also seeing crude prices going up and this is going to lead to margin erosion for all dye companies also another headwind is china coming back again increasing supply and fighting for already low demand.
At current price i think everything is not priced in for me it would be somewhere around 110 to 120.Even at this price my major cause of concern would be how long chinese suppliers are going to be there for because the company enjoyed super normal profits for a long time due to china closing factories beacuse of pollution norms.
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