Motilal Oswal initiates coverage on Supreme Industries, Astral, Prince Pipes with 'buy'

Supreme Industries

26/06/2025 09:09

** Motilal Oswal initiates coverage on plastic pipe makers Supreme Industries SUPI.NS, Astral ASTL.NS, Prince Pipes PRCE.NS with "buy" rating

** Industry to grow at ~14% CAGR to 805 bln rupees ($9.39 bln) by FY27, driven by housing, irrigation, and sanitation - Brokerage

** Motilal expects SUPI market share to improve on plant addition, growing distribution network; sets PT at 5,400 rupees

** Brokerage says Astral's diversified channel strategy has highest total addressable market among peers; sets PT at 1,800 rupees

** Adds, PRCE's real estate exposure, premium products, 60,000 MTPA plant will enhance reach; sets PT at 500 rupees

** SUPI stock down 1%, ASTL up 0.8% and PRCE gains 3%; Nifty 50 .NSEI up 0.6%

** YTD - SUPI, ASTL, PRCE down ~7%, ~8%, and ~18%, respectively

($1 = 85.7700 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))