Shyam Metalics & Energy: UBS raises price target to 1,550 rupees
UBS increased its price target on Shyam Metalics and Energy to 1,550 rupees from 1,250 rupees and reiterated its "Buy" rating, citing higher-margin products, capacity expansion and a stronger earnings outlook. The bank forecasts EBITDA to improve to 8,400 rupees/ton by FY31 from 4,700 rupees/ton in FY26.
UBS lifted its price target on India's Shyam Metalics and Energy to 1,550 rupees from 1,250 rupees and reiterated its Buy rating, citing higher-margin products, capacity expansion and a stronger earnings outlook. The broker said it expects EBITDA to rise to 8,400 rupees/ton by FY31 from 4,700 rupees/ton in FY26, supported by a greater focus on higher-value products. UBS also raised its FY28 and FY29 EBITDA guidance by 3% and 8%, respectively, and said earnings growth should outpace volume growth as product mix improves and project execution advances. 20 rupees.
50 rupees, 34% year to date.