India, Feb. 24 -- FY26 is expected to be relatively stronger for both the global and Indian economies compared to FY25. In India, the air conditioning (AC) industry is projected to grow steadily, which in turn should support higher demand for refrigerants. While the US market is anticipated to remain soft, improving economic conditions in the Middle East could provide incremental demand support. Additionally, expectations of more stable pricing in the refrigerant gases (RG) segment may help improve margins over the coming year.

However, global brokerage firm Morgan Stanley takes a more cautious stance on the sector. Despite broader demand optimism, the brokerage has reiterated its 'underweight' rating on two chemical players.

Brokerage ...