Nuvama sees earnings boost for India's Venus Pipes, raises PT

Venus Pipes & Tubes

21/12/2023 09:09

** Nuvama sees earnings boost for Venus Pipes and Tubes
 VENS.NS , raises PT to 1,758 rupees from 1,686 rupees
    ** VENS stock up 1.8%, and has risen ~87% YTD
    ** Aggressive capacity addition, co's thrust on value
addition shall boost earnings growth - Nuvama
    ** Company aims to add 38,400 tonnes capacity by fiscal 2025
- note
    ** Brokerage retains "buy" rating, compared to four
analysts' avg rating of "strong buy" as per LSEG data
    ** Its PT, however, is slightly above the analysts' median
target of 1,729 rupees

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))