Steady gains for India's Supreme Industries on prudent capital allocation plans-Investec

Supreme Industries

04/07/2023 08:05

** Shares of plastic products manufacturing company Supreme
Industries  SUPI.NS  up as much as 2.7% to 3,255.95 rupees 
    ** Investec Capital Services, in a note, says
well-articulated strategy and disciplined capital allocation
remain co's hallmark, evident from its re-investment avenues
    ** Brokerage retains 'buy' rating for stock; ups PT to 3,330
rupees from 3,000 rupees 
    ** Adds, the focus is on deepening total addressable market
as it leverages its brand, distribution, manufacturing footprint
    ** Thirteen analysts rate stock 'buy' or higher, six 'hold'
and three 'sell' and 'strong sell'; median PT is 2,962 rupees -
Refinitiv data
    ** SUPI shares up 29.4% YTD, as of last close
    

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))