Economy
Sambhv Steel Tubes Stock Surges 60% in 6 Months; Choice Broking Initiates Buy Rating
Livemint1h
THE BRIEF
1
Shares of Sambhv Steel Tubes rose nearly 60% over the past six months, hitting a 52-week high of ₹167.30 on September 30 before correcting over 5% due to profit booking.
2
Brokerage firm Choice Equity Broking initiated coverage on the stock with a 'buy' recommendation and a target price of ₹210, implying a 27% upside from its previous close.
3
The brokerage projects EBITDA and PAT to compound at 47% CAGR each from FY26 to FY29, driven by integrated HR coil production and strong demand for ERW pipes.