Buy a small-cap stock: The recommendation from SBI Securities is to purchase Venus Pipes stock for a year. With a target price of Rs 2,415 per share, the brokerage has recommended purchasing the shares. In this manner, the stock can yield returns from its present price of up to 10%.
SBI Securities Recommend Venus Pipes for Long-Term
Small-cap stock to purchase: On Friday, June 21, after a highly tumultuous day, the Indian benchmark indices closed lower, with the Nifty closing at 23,500. The Nifty sank 65.90 points, or 0.28 percent, to 23,501.10, while the Sensex fell 269.03 points, or 0.35 percent, to 77,209.90.
In the meanwhile, long-term investor SBI Securities advised purchasing this midcap stock.
Buy a small-cap stock, SBI Securities Recommend Venus Pipes for Long-Term
The stockbroker recommended purchasing Venus Pipes & Tubes Ltd. stock for a year, which makes stainless steel pipes.
Venus Pipes: SBI Securities has recommended buying Venus Pipes shares for a 12-month period, with a share price target. With a target price of Rs 2,415 per share, the brokerage has recommended purchasing the shares. In this manner, the stock can yield returns from its present price of up to 10%.
Venus Pipes’ shares ended Friday, June 21, at Rs 2,175.95 a share, up 6.11 percent on the BSE.
Why is SBI Securities, a brokerage, positive on this stock?
SBI Securities reports that the company has secured a contract from an EPC contractor specializing in semiconductors from the Middle East and US markets. It projects that going forward, seamless will bring around 40–43 percent of total revenue, while welded will bring in roughly 57–60 percent. The company is investing Rs 115 crore to install welded tubes and value-added fittings in the first phase. It is anticipated that this project will be finished by March 2025. Value-added fittings and seamless/welded pipes and tubes are being established for Rs 65 crore in the second phase. It is anticipated that this project will be finished by December 2025. The company currently has 240 crore rupees worth of orders that need to be fulfilled in 100 days SBI Securities Recommend Venus Pipes for Long-Term
The corporation ventured into various industries during FY24, including the oil and gas, paint, food processing, and railroad sectors.
Venus Pipes’ stock performance
If we examine small-cap stock performance, the returns over the past year have been approximately 92%. In contrast, the stock has increased by 63% during the last six months. In 2024, the stock has increased by 53% thus far. In addition, the return over the previous two years has been 565 percent. The stock saw a 6.11 percent boost on June 21, 2024, closing at 2175.95. The stock on the BSE has reached a 52-week high of 2,489.95 and a low of 1,104.05. The company’s market capitalization is Rs 4,416.33 crore.(SBI Securities Recommend Venus Pipes for Long-Term)
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
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