Chemical sector is an interesting space to look at given that there has been a broad based correction recently. Now the correction has been more due to commodity inflation.

In this space, Navin Fluorine is an interesting stock to look at. Stock has corrected by about 20 percent from recent highs. Quarterly results have been mediocre, however some positive takeaways was from strong sequential improvement in inorganic fluoride and CRAMS business.

Now margins were impacted, but this was due to high employee and consultancy costs wherein both cost drivers were long-term positive. Now of course, there was an impact of fuel costs, but this didn't appear to be material.

Now the medium term watch is the commissioning of two capex projects, which can add about 60 percent plus revenue potential. So though valuation are still expensive, they believe premium can sustain given investment in talent and technology and inquiry from innovator and hence long term investors can take advantage of recent consolidations.

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