Among sectoral indices, Nifty PSU Bank, Nifty Metals, Nifty Media and Nifty Realty, while Nifty IT, Nifty FMCG and Nifty Auto sectors reeled under selling pressure.
The brokerage expects the welded line pipe maker to deliver a 33% EPS CAGR over FY2629E, supported by capacity additions, a strong order book and a favourable shift towards higher-margin overseas business.
With the current order backlog of Rs 13,500 crore and upcoming order inflows from STATCOM, transmission, data centers and exports, the brokerage sees a strong visibility on revenue growth.
