India's Nuvoco Vistas gains on capacity expansion plans

Nuvoco Vistas

02/09/2025 07:15

** Nuvoco Vistas NUVO.NS rises ~2% to 464.9 rupees

** Citi likes cement maker's plan to add 4 MTPA capacity in eastern India for 2 billion rupees ($22.7 million); highlights shift in focus to volume

** Keeps "buy", PT at 475 rupees; says co's valuations largely inexpensive

** Adds slowing pace of capacity addition in the east indicates limited pricing pressure in medium-term

** NUVO is Citi's top pick among mid-cap cement stocks

** Stock rated "buy" on avg; median PT is 421 rupees, per data compiled by LSEG

** YTD, NUVO gains 32%

($1 = 88.0427 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)

 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))