India's Bansal Wire gains after DAM Capital backs expansion plan

Bansal Wire Industries

11/06/2025 08:05

** Bansal Wire Industries BANW.NS shares rise 2% to 386 rupees

** DAM Capital initiates coverage of iron and steel wire maker with "buy" rating; PT at 481 rupees, a 24% premium on Tuesday's close

** Brokerage lauds co's plan to expand from 259 KT in FY24 to "market-leading" 679 KT by FY26, at par with market leader Tata Wires

** Co has been able to protect margins despite cost fluctuations in the past, and is well placed for future growth with focus on growing faster than the market - DAM Capital

** DAM's PT highest among three brokerages covering the stock - data compiled by LSEG

** YTD, stock gains 12.4%

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))