India's Venus Pipes extends gains as Investec sees demand recovery

Venus Pipes & Tubes

07/03/2025 08:48

March 7 (Reuters) - ** Shares of pipes maker Venus Pipes VENS.NS climb 4% to 1,481.1 rupees apiece

** Stock on course for fourth session of gains, rising 18.2% over the period

** Investec reiterates "buy", forecasting a return of 21% for the stock in the next 12 months, after hosting the company's management in an analyst meet

** Says pick up in capex to aid recovery in domestic demand for VENS in fiscal year 2026 while share of exports is likely to rise

** Adds capacity expansion, strong volume growth coupled with improving profitability to power earnings growth for VENS

** The average recommendation of six analysts tracking VENS is "strong buy"; median target price is 1,865.5 rupees, according to data compiled by LSEG

** Shares down 1.1% this year compared to Nifty 50's .NSEI 4.6% drop

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))