India's Sanghi Industries jumps on analysts' positive views

Sanghi Industries

03/03/2023 06:09

** Shares of cement manufacturer Sanghi Industries  SNGI.NS 
up as much as 4.65% to 63 rupees
    ** Co on track for second consecutive session of gains if
trends hold, but hits weekly loss after being up last week
    ** Co dealing with key financial challenges, involved in
litigations with global corporations like L&T- analysts at
Nirmal Bang
    ** Add cement industry participants like Ultratech, Shree
Cement, Dalmia, JSW and Adani would be interested in investing
in SNGI due to its quality and location advantage
    ** We think this asset would fetch a price anywhere $85-$100
per tonne- Nirmal Bang
    ** More than 122,635 shares change hands, as of 11:21 a.m.
IST, 0.3x the 30-day average of 482,321 shares
    ** Stock down 14.12% YTD as of last close, after posting two
consecutive years of gain
    


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