Astral Ltd. shares jumped more than 2% after JP Morgan initiated coverage on the company with an Overweight (OW) rating, setting a target price of ₹1,700.
The brokerage highlighted that the pipe sector is nearing a demand recovery inflection point, with expectations of a turnaround in demand starting from the second quarter and margin improvement in the second half of the year.
JP Morgan also sees strong earnings potential for Astral, projecting 17–18% EPS growth over the next three years. However, they noted that PVC price fluctuations remain a key risk for the company’s performance.
The stock opened at ₹1,455.80 and has traded between ₹1,455.80 and ₹1,478.40 so far today. Over the past year, Astral has seen a 52-week low of ₹1,232.30 and a high of ₹2,037.95. As of 9:50 AM, the shares were trading 2.48% higher at Rs 1,476.10.
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