India's Shyam Metalics and Energy rises after Jefferies hikes target price on growth outlook
18/06/2026 06:52
BUZZ-India's Shyam Metalics and Energy rises after Jefferies hikes target price on growth outlook ** Shares of Shyam Metalics and Energy SHYE.NS rise 3.2% to 986.12 rupees
** Jefferies ("buy", raises TP to 1,150 rupees from 1,040 rupees) says co offers one of the strongest growth profiles in the Indian metals sector, expecting 16% EBITDA CAGR over FY26-FY29
** Flags sharp steel price declines and delays in capacity additions as key risks
** At investor day, co reiterates plans to nearly triple EBITDA to 62 billion rupees ($656.36 million) by FY31 and expand capacity across carbon steel, stainless steel and sponge iron
** YTD stock up 16.42%
($1 = 94.4600 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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