Belrise Industries shares rose around 5% in morning trade on Tuesday after global brokerage Jefferies initiated coverage on the stock with a ‘Buy’ rating and a target price of ₹135. As of 9:25 AM, the shares were trading 5.27% higher at Rs 107.87.
Jefferies highlighted Belrise’s positioning as a key supplier of metal components to the two-wheeler (2W) industry, with growing exposure to four-wheelers (4Ws) and export markets. The firm expects Belrise to deliver a 12% compound annual growth rate (CAGR) in both revenue and EBITDA, along with 18% EPS growth over the next three years.
The note pointed to structural trends such as improving two-wheeler demand, ongoing premiumization across the auto segment, and increasing content per vehicle as supportive factors. Jefferies also mentioned that any simplification of the company’s group structure could help unlock additional value.
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