India's PG Electroplast gains after Equirus begins coverage with 'long'

PG Electroplast

09/12/2024 07:34

** Shares of PG Electroplast  PGEL.NS  climb 3.7% to 843.85
rupees
    ** PGEL, a contract manufacturer for electronic appliances,
hit a record high of 858 rupees earlier in the day
    ** Equirus Securities begins coverage of stock with "long"
rating and Street-high PT of 980 rupees
    ** Brokerage sees room for growth in co's air conditioner,
television and washing machine design and manufacturing
business; highlights ability to quickly scale up new ventures
    ** Excluding Equirus, four analysts tracking stock rate it
"buy" on avg - LSEG data 
    ** Stock has more than tripled in value so far this year

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))