As of August 21, the brokerage's target price for the metal producer's stock implies an upside of 57%.
The management's approach to move up the value chain, diversifying products/metals, and its backward integration move to capture efficiencies make it stand out.
The company's successful foray into new businesses of aluminium and stainless steel products showcases its execution capabilities, highlights the brokerage.
Multiple new projects, set to commence operations in FY25/FY26, provide a strong earnings visibility in Shyam Metalics and Energy, according to the brokerage.
The metal producer mitigates profitability risk through diversification, according to the brokerage.