India's Venus Pipes jumps on potential gains from Saudi anti-dumping duty on China, Taiwan imports

Venus Pipes & Tubes

02/07/2025 08:38

** Shares of Venus Pipes VENS.NS rise as much as 9.13% to 1479 rupees, a three-week high

** Pipes and tubes maker's stock last up 7%

** Uptick after the government of Saudi Arabia imposes anti-dumping duty on imports of specific types of stainless steel pipes originating from China and Taiwan

** Nuvama says the anti-dumping duty on Chinese and Taiwanese imports opens up a huge opportunity for Indian welded pipes players since Saudi market is largely import-dependent

** Says VENS, with its strong focus on exports, stands to benefit from the ADD on Chinese imports

** Reiterates "buy" with a target price of 2,120 rupees, implying an upside of 56.4%

** The average rating of six analysts tracking VENS is "buy"; the median price target is 1,785 rupees, according to data compiled by LSEG

** VENS drops 10% in 2025 so far underperforming the 3.5% drop in Nifty microcap 250 index .NIFTYMICROCAP250

 (Reporting by Bharath Rajeswaran in Bengaluru)

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