Goldman Sachs has reiterated its “Buy” rating on Astral, setting a target price of ₹2,410, which represents a potential upside of 35% from the current market price of ₹1,790. The brokerage noted that Astral’s Q2 performance was largely in line, with plumbing results meeting expectations while the ‘paints & adhesives’ division underperformed. Positive momentum was seen in pipe realizations, which improved by 4% quarter-on-quarter, alongside better-than-expected margins. The weakness in the ‘paints & adhesives’ segment was highlighted as the primary reason for the overall miss.
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