India's Prince Pipes jumps as Nuvama upbeat on growth prospects

Prince Pipes and Fittings

26/06/2024 09:06

** Shares of Prince Pipes and Fittings  PRCE.NS  advance
4.4% to 699.95 rupees, highest since early Feb 
    ** Brokerage Nuvama says strong infra push, real-estate and
agri segment demand in India are key growth drivers for plastic
pipes makers 
    ** PRCE sees 15% vol growth in FY25, Nuvama said in a note 
    ** Retains "Buy" rating on stock, TP of 830 rupees 
    ** Nuvama's TP on stock is the second top among 13
brokerages, per LSEG data 
    ** Analysts' avg rating on stock is "Buy", TP of 758.5
rupees 
    ** Stock eyes busiest trading day since mid-May, over 1 mln
shares traded 
    ** Including session's gains, stock down 5% YTD vs ~15%
gains in the Nifty 500 index  .NIFTY500  
    
    

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))