India's Astral gains nearly 5% on positive growth view

Astral

06/04/2023 09:18

** Shares of pipe-maker Astral Ltd  ASTL.NS  rise as much as
4.73%, most intraday gains in over four months since Dec. 2,
2022
    ** Domestic brokerage Prabhudas Lilladher identifies ASTL
among its top picks in building materials segment, cites
potential volume growth and expansion of core profit margins in
March quarter
    ** Stable raw material prices, correction in power and fuel
expenses to aid margin- brokerage
    ** Healthy growth in projects, diversification in other
segments and ramp-up of plants in eastern region to aid ASTL:
Prabhudas Lilladher
    ** Co's plumbing business to add to profitability and
margins- brokerage
    ** Says improvement in real estate demand, govt's
infrastructure push will aid building materials segment in Q4
    ** Trading volume at 613,800 shares as of 1:35 p.m. IST,
1.4x the 30-day avg of 438,575 shares - Refinitiv data
    ** Ten of the 21 analysts tracking ASTL maintain "buy", four
suggest "sell" and seven recommend "hold"; median PT is 1,624
rupees

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))