India's Astral hits two-month high after Morgan Stanley projects near-term outperformance
BUZZ-India's Astral hits two-month high after Morgan Stanley projects near-term outperformance ** Astral's shares ASTL.NS rise as much as 3.54% to 1,378 rupees apiece, a two-month high
** Morgan Stanley says ASTL will rise relative benchmark Nifty 50 index .NSEI over next 30 days
** Brokerage has an "overweight" rating and price target of 1,660 rupees, an implied upside of about 25%
** Says ASTL offers exposure to some of the most attractive growth pools within India's building products sector, supported by market share gains, chlorinated polyvinyl chloride backward integration
** Adds valuations appear more reasonable, following a period of weaker growth and share price underperformance
** Combination of stronger growth and margin expansion supports an attractive risk-reward profile at current levels - Morgan Stanley
** ASTL down 1.3% in 2026 vs 7.7% fall in Nifty 50
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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