CLSA has upgraded its rating for Astral from “Underperform” to “Hold” and raised the target price to ₹2025, reflecting a positive outlook on the company’s future performance. The brokerage firm has also increased its earnings per share (EPS) estimates for Astral by 1-3% for the financial years 2025-2027, citing slightly better volumes supported by capacity additions and improved profitability.
In addition, CLSA has raised the target price for Supreme Industries to ₹4750, maintaining an “Underperform” rating. The report highlights strong demand and stable prices in the pipes segment, which are expected to limit underperformance.
For the cement sector, CLSA notes that market consensus is overly optimistic about a sharp improvement in earnings. The brokerage firm remains cautious due to the current weak pricing environment. Despite stocks trading above their median values and potential consensus earnings cuts ahead, CLSA sees limited upside in the sector and prefers Ultratech Cement, maintaining a “Hold” rating.
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