Company is one of the largest producer in pipe segment. They are in top 3 among line pipe manufacturers globally. It is mainly used in Oil,gas & water industry. Some of its major clients are 👉Reliance, IOCL, Shell,Total gas, British Gas, BP ,LT,Saudi Aramco, qatar petroleum,etc.
Reasons to consider for buying : 👉 Consistent growth in net profit with increasing margin 💚 👉 Company with strong financials - Low debt, zero pledge, EPS growth, growth in ROE & ROCE. 👉Book value per share is improving consistently for the past yrs 👉 Company with strong moat 👉 CAGR sales growth of 10.5% for the past 10 yrs 👉 Promoters have increased their stake in last qtr💚💚💚(who else know better than promoters) 👉 Company with attractive valuations 👉 Stock pe is very attractive compared to industry and available at attractive valuation.
Future Outlook: Company is into pipe manufacturing and lot of pipeline projects are under progress/proposed(including govt projects)in Oil & gas sector, water and other sectors, etc which will greatly benefit the stock. Being the largest producer, they can benefit out of it. Also, company is having competitive edge over others.
Technicals: on Technical front, stock is so bullish and looking strong. One can buy for a target of 💯 % returns in this counter. Buy on dips.
Disclaimer: All views are personal and its not a recommendation call. Do your own research before investing.