EastIndiaSecurities recommends ‘holding’ Rajratan Global Wire stocks with a target price of Rs 630 in its research report dated April 29, 2024.
RajratanGlobalWire faces tough competition from Chinese suppliers in its industry.
However, Rajratan is strategically positioned to handle these challenges and adapt to changes in the market.
With the start of commercial production in Chennai expected soon, a forward multiple of 20 times is applied to the predicted profits (PAT) for the FY26, estimated to be Rs 1,598 million.
Currently, Rajratan's stock is being traded at a price-to-earnings (P/E) ratio of 20.1 times, considering the earnings for FY26
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