India's Prince Pipes and Fittings rises on volume growth hopes

Prince Pipes and Fittings

28/12/2022 09:01

** Shares of Prince Pipes and Fittings Ltd  PRCE.NS  rise as
much as 2.53% to 583.65 rupees on expectations of double-digit
volume growth in second half of financial year 2022-23
    ** PRCE on track for a third consecutive session of gains
    ** Healthy demand from plumbing segment, restocking from
dealers, along with higher demand from price-sensitive
agriculture markets to aid volume growth - ICICI Securities
notes, after an interaction with PRCE's management
    ** ICICI Securities maintains "buy" rating on stock with
target price of 691 rupees, an implied upside of 21.44% over the
last close of 569 rupees
    ** More than 111,000 shares change hands by 2:20 p.m. IST,
0.5x the 30-day avg
    **Analysts on an average rate the stock at "strong buy";
median PT is 691 rupees - Refinitiv data
 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))