new Delhi. Brokerage house JF Financial is seeing a lot of strength in the stock of Shyam Metallics and Energy. The brokerage house estimates that this stock can give good profits to its investors in the coming time. So far in the year 2022, the stock of Shyam Metaliks has gained 7 percent.
JM Financial says that Shyam Metalics is a prominent company in the Indian metal space. Equipped with a diversified value chain, the company has a strong focus on growth. In the medium term, the company is focusing on increasing its production capacity to more than double. This will see an increase in the income of the company in the future.
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Shares up 7 per cent this year
Shares of Shyam Metalics and Energy (SHYAMMETL) were listed in June 2021. Although the newly listed stock has broken more than 7 percent from its listing in the market so far. However, in the year 2022, there has been a boom in this stock and it has climbed seven percent in this period. JM Financial has given the target price of this metal stock (Shyam Metallics Share Target Price) as Rs 480. JM Financial believes that this stock can increase by 30 percent from the current level.
Shares of Shyam Metalics on NSE closed at Rs 361.65 (Shyam Metallics Share Price) with a gain of 1.23% on Wednesday. The 52 week high of the stock is at Rs 461.15 while its 52 week low is at Rs 289.15. The company market cap is Rs 9,224 crore.
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Company’s emphasis on capacity expansion
JM Financial says that the balance sheet of the company is also very strong. There is a possibility of seeing good growth in the business of the company going forward. Shyam Metalics has also announced an additional capex of Rs 9.9 billion in addition to the ongoing expansion plan of Rs 30 billion. The company is working fast on plans for capacity expansion of its Jamuria and Sambalpur plants. The company’s expansion plan is being funded from its internal sources. This is unlikely to put pressure on the company’s balance sheet.
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