Anup Engineering shares gained 16% this week after Ambit initiated coverage on the stock with a “Buy” rating.
The company set a target price of ₹3,800. Anup, a major player in the heavy engineering industry that manufactures crucial process equipment for refineries, petrochemicals, fertilizers and power plants, is likely to profit from rising capex in end-user segments.
Domestic oil and gas capex is expected to rise by around 80% during the next five years. Investments led by the energy transition and hydrogen projects are estimated to surpass $0.5 trillion by CY30, providing considerable growth prospects for the firm.
Anup Engineering shares opened at ₹2,595.75 on Friday, reaching a high of ₹2,685.00 and a low of ₹2,502.70.
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