India's Shyam Metalics rises as Jefferies initiates with 'buy'

Shyam Metalics and Energy

24/11/2025 04:36

** Shares of India's Shyam Metalics and Energy SHYE.NS rise nearly 3% to 848 rupees

** Stock set to snap four-day losing streak, if trend holds

** Brokerage Jefferies initiates coverage of stock with "buy" rating, sets PT at 1,050 rupees

** Says co offers one of the best growth potential in India metals, underpinned by capacity expansions and healthy balance sheet

** Expects strong growth momentum to continue with broad-based volume growth across the portfolio along with improving mix led by expansion in stainless steel

** Adds co set to become among top three stainless steel players in India

** SHYE rated "buy" on avg by six analysts covering it; median PT at 1065 rupees, as per data compiled by LSEG

** YTD, SHYE stock up 16.3%

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))