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There has been an increase in construction activity across different parts of the globe due to improvement in the demand outlook on the back of lower interest rate and changes in tendency of people post lockdown.

We believe this should aid soda ash consumption given that flat glass constitutes approximately 20% of the latter demand.

In turn, this would narrow the demand/supply mismatch and support realisation, to an extent, in the medium term.

Since Tata Chemical Ltd. holds sizable market share in the global soda ash market, we expect the core business to grow at a decent rate on the back of aforementioned factors along with low base effect in the coming year.

Click on the attachment to read the full report:

ICICI Direct Tata Chemical Company Update.pdf


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