ICICI Securities initiates India's Jain Resource Recycling at 'buy' on copper growth
BUZZ-ICICI Securities initiates India's Jain Resource Recycling at 'buy' on copper growth ** Shares of India's Jain Resource Recycling JAIE.NS rise as much as 3.4% to 291 rupees
** ICICI Securities initiates coverage of co with "buy" rating and TP of 350 rupees, citing strong volume growth, copper downstream integration and improving product mix
** Brokerage expects copper division volumes to grow at 23% CAGR over FY26-FY29, driven by higher utilisation
** Says co's move into higher-value copper products could improve value captured per tonne and support earnings growth
** Expects double-digit overall volume growth, while higher domestic sourcing could reduce working capital and strengthen balance sheet
** YTD stock down 31.73%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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