Motilal Oswal sees growth prospects for India's Jain Resource in tight copper market, stock up

Jain Resource Recycling

28/04/2026 07:44

** Shares of non-ferrous metal recycler Jain Resource Recycling JAIE.NS rise 3.6% to 434.95 rupees, extending gains to a third straight session

** Motilal Oswal reiterates "buy" with TP of 560 rupees, a 33% upside to stock's last close

** Brokerage says copper supply gap is widening, with demand expected to grow about 1.5 times by 2040 while only ~70% of requirements may be met through mining by 2035

** "In such a tightening supply scenario, JAINREC's forward integration into value-added copper products is strategically aligned with the fastest-growing new-age copper demand engines" - brokerage

** Motilal Oswal prefers JAIE due to its strong position in a tightening copper market, better pricing for green metals, and lower growth risks from integration and diversification

** YTD, stock up 4.5%

 (Reporting by Abhinav Parmar in Bengaluru)

 ((Abhinav.Parmar@thomsonreuters.com;))