Small stocks have lagged behind the equity benchmark Sensex in 2022-23, falling nearly 6 per cent amid a host of negative factors like higher interest rate regime, high inflation and the Russian-Ukraine war. According to market analysts, it was a tumultuous year for the Indian equity market. The Russian-Ukraine war made the first quarter of the Indian equity market particularly difficult, but the second and third quarters witnessed a respectable rebound, they noted. Headwinds such as high inflation, the Russia-Ukraine war and higher interest rates hit investors' appetite for small stocks. With just one day of trading left in the current fiscal, the <keyword id="35140" type="General" weightage="80" keywordseo="bse" source="Orion">BSE</keyword> smallcap gauge has fallen by 1,616.93 points or 5.73 per cent so far in 2022-23. The midcap index is down 270.29 points or 1.12 per cent in the 2022-23 financial year. In comparison, the <keyword id="53232" type="General" weightage="50" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> has declined 608.42 points or 1.03 per cent. "Many factors contributed to the underperformance of the Indian stock market in FY23. The Indian market performed remarkably well in FY21 and FY22, as both the Nifty and Sensex produced double-digit returns. When the Indian stock market performs strongly for two years in a row, profit booking is inevitable in the third year. In FY23, we experienced headwinds due to the Russia-Ukraine war that negatively impacted market sentiment. "In addition, central banks around the world began to hike interest rates to curb inflation. This compelled investors to switch from the risk-on to the risk-off strategy," said <keyword id="14302869" type="General" weightage="50" keywordseo="sunil-damania" source="Orion">Sunil Damania</keyword>, Chief Investment Officer at equity advisor MarketsMojo. The BSE smallcap index jumped 7,566.32 points or 36.64 per cent in the 2021-22 fiscal, and the midcap surged 3,926.66 points or 19.45 per cent. In comparison, the Sensex ended 2021-22 with a gain of 9,059.36 points or 18.29 per cent. "We have observed in the past that when interest rates start rising, mid and small-caps tend to underperform. Their ability to service higher borrowing cost is not as robust as large-caps," Damania said. In FY21, the BSE smallcap index had zoomed 11,040.41 points or 114.89 per cent, while the midcap index jumped 9,611.38 points or 90.93 per cent. In comparison, the 30-share BSE benchmark had clocked 20,040.66 points or 68 per cent gain during 2020-21. "The Indian equity market has had a flat-to-down year for FY23. The underperformance of the equity market was primarily caused by several causes, including global anxiety, particularly rising inflation, a significant increase in interest rates in the USA and later global financial troubles. We outperformed our global competitors in the prior fiscal year, which is another factor. "Mid and smallcap companies suffer from greater inflation and higher borrowing costs since they are less able to transfer input prices and have higher borrowing costs when compared to major players," <keyword id="6531843" type="General" weightage="50" keywordseo="santosh-meena" source="Orion">Santosh Meena</keyword>, Head of Research, Swastika Investmart Ltd, said. In an uncertain atmosphere, investors also seek protection and smallcap companies are viewed as riskier investments in the equity market, Meena said. The midcap index tracks companies with a market value that is, on average, one-fifth of blue chips, while smallcap firms are almost a tenth of that universe. It was a tough year for the Indian equity market amid global uncertainties with the Ukraine-Russia war, Fed rate hikes, inflation and recession projections, Arvinder Singh Nanda, Senior Vice President, of Master Capital Services Ltd, said. "The underperformance has been attributed to a range of factors, including continuous Foreign Portfolio Investors (FPI) selling, reopening of the Chinese economy and sell-off in Adani Group stocks," Nanda added. The 10 listed Adani Group companies have together lost significant market value following the US short-seller Hindenburg Research report on January 24. The BSE smallcap gauge fell to its 52-week low of 23,261.39 on June 20, 2022, and later reached its one-year peak of 30,185.95 on September 15, last year. The BSE midcap index hit its 52-week low of 20,814.22 on June 20, 2022, and later bounced back to reach its one-year high of 26,440.81 on December 14 last year. The Sensex reached its all-time high of 63,583.07 on December 1, last year, after hitting its one-year low of 50,921.22 on June 17, 2022. On the outlook for midcap and smallcap indices for the next fiscal, Meena said, since the environment is still uncertain, there is a chance that volatility may persist in the first quarter of FY24. But, as the market becomes more certain about when US interest rates will peak, the overall market will begin to trend upward. "We expect interest rates to begin stabilising in FY24 and then decline. If this occurs, small and midcap stocks will begin to outperform. We are confident that the risk-on strategy will make a strong comeback in FY24. This will further boost demand for small and mid-cap stocks. While we did expect mid and small-caps to perform well in FY 2023, we anticipate a strong comeback in FY 2024," Damania added. According to market analysts, small stocks are generally bought by local investors, while overseas investors focus on blue chips or large firms. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/tamil-nadu-says-nahi-to-dahi-over-hindi-name-on-curd-packets/articleshow/99116854.cms">Tamil Nadu says 'nahi to dahi' over Hindi name on curd packets</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/ril-calls-for-shareholder-creditor-meeting-to-approve-demerger-of-financial-services-arm/articleshow/99116790.cms">RIL calls for shareholder, creditor meeting to approve demerger of financial services arm</a>

Small stocks lag behind in FY23; take bigger hit than bluechip firms

<ul><li><keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> closed 35 points lower at 58,817 while <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> managed to end 9 points higher at 17,534.</li><li>Metals company stocks were the biggest gainers on Dalal Street with Hindalco Industries being the top gainer followed by Coal India Tata Steel.</li><li>Hindalco reported an all-time high quarterly net profit for June quarter at ₹4,119 crore.</li></ul>Indian markets traded flat today on Wednesday following cues from its Asian and US peers ahead of the <keyword id="108767" type="General" weightage="20" keywordseo="us-inflation" source="Orion">US inflation</keyword> data — that will determine the future course of action by the US Fed. Sensex closed 35 points lower at 58,817 while Nifty50 managed to end 9 points higher at 17,534. Metals company stocks were the biggest gainers on Dalal Street. Hindalco Industries was the top gainer as it went up 4.4% gains followed by Coal India that went up and Tata Steel by 1.8%. Hindalco reported an all-time high quarterly net profit for June quarter at ₹4,119 crore with revenue rising to ₹58,018 crore as against ₹41,358 crore last year. Meanwhile, IT and real estate stocks were the biggest losers. Analysts believe the market mood has changed amid massive volatility due to macro economic conditions. July turned out to be the best month as of now, in this current financial year, with the Nifty and Sensex surging by over 8%. FIIs reversed their trend of huge sell off and are now buying in some pockets. So far, in August, FIIs bought assets worth over ₹ 17,000 crore including equity, debt and hybrid. “Foreign investors are returning and are here to stay this time because of India's strong economic growth. The IMF revised India's GDP growth, but India will still be the fastest-growing large economy in the world. And if the economy grows, India Inc's earnings would also increase. And with a rise in India Inc earnings, FIIs would look to chase the growth story,” said Sunil Damania, chief investment officer at MarketsMojo. “Given favorable conditions, FIIs will have every reason to return to the Indian equity market as they look to invest in countries that can help them generate alpha on the portfolio,” said Damania. Besides, the southwest monsoon has progressed well with 8% above normal range until July 31, which will further help boost the rural economy and reduce food inflation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/consumers-are-taking-more-shorter-trips-through-the-year-says-oyo/articleshow/93471613.cms">Consumers are taking more shorter trips through the year says OYO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/healthy-household-balance-sheets-will-push-auto-consumer-goods-sales-morgan-stanley/articleshow/93473239.cms">Healthy household balance sheets will push auto, consumer goods sales: Morgan Stanley</a>

Indian markets close flat as they await cues from US inflation data

Benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty closed higher on Thursday, extending the winning streak to the fifth straight session after the <keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword> unexpectedly kept policy rates unchanged as global banking woes added uncertainty to the economic outlook. Buying in index majors HDFC Bank and Reliance Industries also added to the optimism in the equity market. Bouncing back from early fall, the 30-share BSE Sensex rose by 143.66 points or 0.24 per cent to settle at 59,832.97. During the day, it advanced 260.75 points or 0.43 per cent to 59,950.06. The broader NSE Nifty gained 42.10 points or 0.24 per cent to finish at 17,599.15 after falling in initial trade. After raising interest rate by a cumulative 250 basis points in 11 months, the Reserve Bank of India (RBI) on Thursday unexpectedly kept benchmark rate unchanged as global banking woes added uncertainty to the economic outlook. <keyword id="64190" type="General" weightage="20" keywordseo="rbi-governor" source="Orion">RBI Governor</keyword> <keyword id="6359111" type="General" weightage="20" keywordseo="Shaktikanta-Das" source="Orion">Shaktikanta Das</keyword> however pledged to hike interest rate again if needed, saying the decision to pause was "for this meeting only". The RBI's six-member Monetary Policy Committee voted unanimously to keep the repurchase or repo rate unchanged at 6.50 per cent. Most analysts had expected one final hike of 25 basis points in RBI's current tightening cycle before hitting a pause. "RBI's pause is like Sachin stroke on a tricky pitch but with eyes set in and having the luxury of hitting the ball where ever he wanted. RBI had the option of a rate hike or a pause. The pause was not entirely unexpected. "RBI will watch developments and data before taking the next call. The market expects RBI to fetch maximum run and win the match on inflation and growth, no matter which direction they hit the ball," said Nilesh Shah, MD, Kotak Mahindra Asset management Company Ltd. Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra &amp; Mahindra, State Bank of India, Larsen &amp; Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards. RBI astonished the market by pausing policy rates; nonetheless, there was some talk about this unexpected statement, which keeps it ahead of other major central banks across the world, said Santosh Meena, Head of Research, Swastika Investmart Ltd. "The market is in a good mood, and this policy provides us with further cause to rejoice. However, given that we have witnessed a good recovery from recent lows and that we have a long weekend and a weekly expiry, some profit-taking or consolidation cannot be ruled out," Meena added. In Asian markets, Seoul, Japan and Shanghai ended lower, while Hong Kong settled in the green. European equity markets were trading in positive territory during the afternoon trade. The US markets ended mostly lower on Wednesday. "The Reserve Bank of India has made a prudent decision to pause the rate hike, considering the uncertainty prevailing in the global financial market and the potential challenges that may arise for India's growth due to the lack of clarity on the El-Nino phenomenon. The RBI's decision to take a pause is aimed at supporting growth in the economy. "While the Governor of the RBI has indicated that the pause in the rate hike is applicable only for this meeting, the central bank remains highly vigilant about the growth in the economy and will assess the situation carefully before taking any future rate hikes. In these uncertain times, the RBI recognizes that another rate hike could potentially hamper the growth momentum of the economy," said Sunil Damania, Chief Investment Officer, MarketsMojo. The Sensex had surged 582.87 points or 0.99 per cent to settle at 59,689.31 on Wednesday. The Nifty had jumped 159 points or 0.91 per cent to close at 17,557.05. Meanwhile, global oil benchmark Brent crude dipped 0.54 per cent to USD 84.53 per barrel. Foreign Portfolio Investors (FPIs) bought equities worth Rs 806.82 crore on Wednesday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbi-revises-indias-fy24-growth-outlook-expects-softer-inflation-on-the-back-of-lower-commodity-prices/articleshow/99290005.cms">RBI revises India’s FY24 growth outlook, expects softer inflation on the back of lower commodity prices</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/to-make-good-returns-you-neednt-shop-for-investment-products-you-need-to-be-an-investor/articleshow/99286565.cms">‘To make good returns, you needn’t shop for investment products, you need to be an investor’</a>

Sensex, Nifty rise for fifth day in a row; financial shares advance on RBI policy decision

<ul><li>Markets are poised to see extended gains in August as well after inflation data in India and the US presented positive signs.</li><li>India's annual retail inflation dipped below 7% in July for the first time in four months.</li><li><keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> sustained its 59,000 mark hitting four-month high because of easing global cues and reversal of FII slows after a nine month slump.</li></ul>Indian markets have picked up momentum and are currently witnessing a positive rush of capital infusion from foreign institutional investors or FIIs on hopes of benign interest rate hikes. This confidence comes in retail inflation eased in India, and the US inflation data too was better than expected. On Friday, India's annual retail inflation eased to 6.7% in July from 7.01% in the previous month. Moreover, it has dipped below 7% for the first time in four months, however it remained above the central bank's tolerance band of 2%-6%. “Given favourable conditions, FIIs will have every reason to return to the <keyword id="444236" type="General" weightage="20" keywordseo="indian-equity-market" source="Orion">Indian equity market</keyword> as they look to invest in countries that can help them generate alpha on the portfolio. Despite FIIs selling heavily in the first six months of 2022, we believe FII investments would be positive for 2022. In other words, we believe FIIs would invest more than what they sold in the second half of 2022,” said Sunil Damania, chief investment officer at MarketsMojo. According to Upasna Bhardwaj, chief economist at Kotak Mahindra Bank, says that CPI headline has moderated inline with their but the core inflation remains elevated and sticky. “We expect repo rate at 6% by end of 2022 followed by a pause and a shift to neutral policy stance,” said Bhardwaj. Sensex sustained its 59,000 mark hitting four month high on August 11 because of easing global cues and reversal of FII slows after a nine-month slump. US retail inflation slowed to 8.5% in July, below the estimate of 8.7% and lower than 9.1% in June. This too raised hopes that the Federal Reserve may be less aggressive in hiking interest rates. After 8-10 months of constant FII sell off, the trend has finally reversed and is expected to sustain its momentum. In July and August, markets witnessed positive inflows because of slight ease in global inflationary concerns. As a result, Sensex and Nifty50 surged 11% in the last one month, more than Asian and US peers. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian markets </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in last one month </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.12% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nikkei 225 (Japan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.81% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Taiwan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.73% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hang Seng (Hong Kong) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shanghai SE Composite Index </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.23% </td></tr></tbody></table> ‘Bouts of volatility can’t be ruled out’ Analysts believe that the markets will keep up the positive momentum through all of August. “The short term trend of Nifty continues to be positive and one may expect further upside in the short term,” said Nagaraj Shetti, technical research analyst at HDFC Securities. Global markets are headed for a fourth straight week of gains on Friday, August 12, as investors re-analysed views on how far US interest rates and inflation can climb, while crude oil recouped some of the losses. “The benefit of the recent moderation in commodity costs is likely to start accruing in 2HFY23E, which would boost corporate profitability. Thus the positive momentum in the market is likely to sustain going ahead, though bouts of volatility can’t be ruled out given mixed global cues and increasing geopolitical tensions,” said Siddhartha Khemka, head - retail research at Motilal Oswal Financial Services. Adding to it, over 68% of companies have either met or exceeded earnings expectations in the first quarter, says a Motilal Oswal report. “Amid heightened concerns over a weakening macro environment, management of most of the companies are not seeing any impact on the pipeline. A majority of the companies delivered good deal wins and highlighted a strong pipeline,” said a report by Motilal Oswal. Among FMCG companies, HUL reported good <a href="https://www.businessinsider.in/business/news/consumers-are-buying-smaller-products-and-less-popular-brands-to-deal-with-high-inflationary-pressures/articleshow/93208254.cms">growth in volumes </a>even as the industry reported a decline, showing the company’s ability to navigate in a challenging macro environment. Currently, lack of rural recovery is the pain point for the sector. Southwest monsoon has progressed well with 8% above normal range until 31st July. It could help boost the rural economy and cut food inflation further and improve their spending capacity. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/how-to-inspire-youth-to-keep-indias-agriculture-legacy-alive/articleshow/93520369.cms">How India can create opportunities for its new-age farmers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/avatar-2-black-panther-2-ant-man-here-is-a-complete-list-of-hollywood-movies-expected-to-hit-indian-theaters-in-the-next-6-7-months/articleshow/93522825.cms">Avatar 2, Black Panther 2, Ant Man — Here is a complete list of Hollywood movies expected to hit Indian theaters in the next 6-7 months</a>

Markets poised for positive momentum in August as domestic and global inflation eases

<ul><li>A <keyword id="6381283" type="UNKNOWN" weightage="20" keywordseo="Gas-Leak">gas leak</keyword> from the Visakhapatnam-based <keyword id="9178866" type="UNKNOWN" weightage="20" keywordseo="lg-polymers">LG Polymers</keyword> has left 13 dead, with thousands being affected.</li><li>LG Polymers is the Indian manufacturing plant of South Korean conglomerate <keyword id="233023" type="ORGANIZATION" weightage="20" keywordseo="LG-Chem">LG Chem</keyword>. </li><li>The company released a statement that the gas leak is under control, but said that it is assessing how it happened considering the factory was shut because of the lockdown.</li></ul>On Thursday (May 7) morning, the residents of <keyword id="60510" type="COMPANY" weightage="20" keywordseo="Visakhapatnam">Visakhapatnam</keyword> in Andhra Pradesh, woke up to their worst nightmare. A gas leak near the city’s Venkatapuram area has left 13 dead, and the numbers are only rising. Disturbing images from the city showed people lying dead, while hundreds were being rushed to the hospital and has endangered the lives of thousands. And it all started in the Visakhapatnam plant of South Korean conglomerate LG Chem – LG Polymers, which is in the plastic resin and synthetic fiber manufacturing Industry. <div type="Article" hostid="261" msid="75598617" title="‘This was not the first but this was the worst’ ⁠— says a Vizag gas leak survivor" mstype="2" mssubtype="0"></div> The company released a <a href="https://www.news18.com/news/world/south-korean-lg-chem-says-india-factory-gas-leak-under-control-investigating-cause-2609265.html">statement</a> that the gas leak is under control, but said that it is assessing how it happened considering the factory was shut because of the lockdown. "We are currently assessing the extent of the damage on residents in the town and are taking all necessary measures to protect residents and employees in collaboration with related organizations," <a href="https://www.news18.com/news/world/south-korean-lg-chem-says-india-factory-gas-leak-under-control-investigating-cause-2609265.html">LG Chem, the owner of LG Polymers, said in a statement.</a> History of LG Chem The plant was established in 1961 but was then called Hindustan Polymers. In 1978, the company merged with Mc Dowell &amp; Co. owned by the UB Group. <div type="Article" hostid="261" msid="75597787" title="As the Vizag gas leak crisis unravels, one can’t help but remember the Bhopal Gas Tragedy which left thousands dead" mstype="2" mssubtype="0"></div> However, in 1997, LG Chemical [LG Chem of Chemical] which was looking for an India entry took over the company, which is when the company was renamed as LG Polymers. “LG Chemical considered India as an important market and in it's aggressive global growth plan identified Hindustan Polymers as a suitable company for entering Indian market through 100% takeover,” says the company’s website. Globally, the portfolio of the company includes petrochemicals, energy solutions, advanced materials, and life sciences. Here’s a the entire list of directors in the company’s board: <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YJ Huh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Managing Director </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">P P Chhabria </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-Executive Chairman </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prakash P Chhabria </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Managing Director </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">S S Dhanorkar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asst.Managing Director &amp; COO </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">P Subramaniam </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asst.Managing Director &amp; CFO </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">S N Inamdar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Independent Director </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">P D Karandikar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Independent Director </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">K N Atmaramani </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Independent Director </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sunil U Pathak </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Independent Director </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">D N Damania </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non.Exe.Independent Director </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sanjay K Asher </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non.Exe.Independent Director </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">S S Math </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Whole Time Director </td></tr></tbody></table>Source: <a href="http://cpmaindia.com/lg_polymers_board_of_director.php">Chemicals &amp; Petrochemicals Manufacturers' Association of India</a> According to <a href="https://timesofindia.indiatimes.com/articleshow/75595658.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst">reports</a>, New India Assurance co is the lead underwriter for the public liability insurance of the company. Emergency services have already cordoned off the plant area and are evacuating villagers. The company manufactures GPPS also known as General Purpose polystyrene and HIPS also known as high impact polystyrene, products, EPS or "Expandable Polystyrene" and EPC or Engineering plastics Compounds. The leaked gas was styrene monomer gas, which is used for producing plastic. See Also: <a href="https://www.businessinsider.in/india/news/gas-leak-in-andhra-pradeshs-visakhapatnam-lg-polymers-chemical-plant/articleshow/75591816.cms?upcache=2">Gas leak in Andhra Pradesh pushes thousands into hospitals with 8 dead and 20 in critical condition as the government tries to figure out what went wrong</a>

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