By Admin 
PG Electroplast Nuvama Stock Recommendation: Investors are always looking for such stocks which are expected to rise in the future. Recently, brokerage firm Nuvama has shown a positive attitude regarding PG Electroplast.
According to the firm, a rise of up to 49 percent may be seen in the company’s shares. Let us know about this topic in detail…
Nuvama’s confidence, strong upside visible in long term
Expressing confidence on this stock, brokerage firm Nuvama has set a target price of Rs 800. Due to the current price being around Rs 515, a possible rise of up to 49 percent is being seen.
The brokerage believes that considering the growth prospects of the company, this could become an attractive opportunity for long-term investors. Where better returns are expected with time.
Pressure on shares due to gas supply problem
In the last one month, shares of PG Electroplast have declined by about 15 percent. The supply related challenges remain an important reason behind this. In the information given to the exchange, the company said that information about reduced supply has been received from the gas supplier.
Due to the ongoing tension in the Middle East, sea routes have been affected, due to which the movement of ships has been affected. For this reason, due to increasing pressure on the supply chain, its impact has been seen on the shares also.
Company’s financial performance
PG Electroplast has performed strongly in the recent quarter. Talking about the figures, in the third quarter the net profit of the company has increased by almost 50 percent to Rs 60.3 crore.
During this period, there was a sharp increase in revenue also and it jumped by 45.9 percent to Rs 1,412 crore. While EBITDA increased by 37.4 percent to Rs 117 crore. However, there has been a decline of 8.3 percent in margin.
Status of company shares in stock market
There was a rise in the company’s shares on Friday’s trading day on BSE. The shares closed at Rs 512.75, up 1.68 per cent or Rs 8.45. The intraday high of the day was Rs 521. The market cap of the company is Rs 14,630.94 crore.
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