India's Paradeep Phosphates top pick on Goa plant ramp-up - Antique

Paradeep Phosphates

12/07/2023 07:43

** Brokerage Antique Stock Broking says India's Paradeep
Phosphates  PRAO.NS  its top pick after bullish view on co' s
Goa plant ramp-up 
    ** ASB says urea and non-urea plants running at peak
utilization, Goa plant profitability at inflection point 
    ** We expect capacity utilization of Goa plant to ramp up to
over 90% by FY25 from 60% in FY23 - note 
    ** Ramp-up, energy efficiency improvement can result in
delivery of peak annual EBITDA of 3 bln rupees ($36.46 million)
by FY26 - note
    ** Shares snaps three sessions of losses, currently trading
above 50-day, 100-day and 200-day simple moving averages
    ** PRAO up 0.56% at 11:59 A.M. on Wednesday

($1 = 82.2800 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))