For the chemicals sector, it all depends on a transformation that is still unfolding and will take years to play out. Backward-integration projects, the PLI scheme, and other policies will help the sector, but not in a quarter or two. And the mix of headwinds and tailwinds – China, global demand, policy – will keep coming for a long time. Stock Reports Plus, powered by Refinitiv, is a comprehensive report that evaluates five key components of 4,000+ listed stocks – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. The simple average of the above-mentioned five component ratings is normally distributed to reach an average score.