A company recently listed in the stock market can give strong returns in the coming days. This is what market experts believe. According to experts, investors’ money can more than double in this company. This company is Hariom Pipe Industries. The company’s shares were listed on April 12 this year at Rs 214, while the issue price of Hariom Pipe Industries was Rs 153. The company’s shares had given more than 28 per cent returns on the day of listing.
Buy rating of the company’s shares with a target price of Rs 403
Brokerage house Arihant Capital has given buy rating on the shares of Hariom Pipe Industries. The brokerage house has given a target price of Rs 403 to the shares of Hariom Pipes. The company’s shares may jump by more than 105 per cent from the current share price. The company’s shares closed at the level of Rs 197.25 on the Bombay Stock Exchange on Wednesday, 11 May 2022. The 52-week low level of the company’s shares is Rs 169.35.
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Experts said, the growth of the company will be strong
Arihant Capital in a note has highlighted that Hariom Pipe Industries has achieved strong revenue growth at a CAGR of 47.7 per cent during FY19-FY22. Along with the integration, the company’s plants are located at key locations. Also, the company’s products are priced very competitively and its network continues to grow. With experienced management and capacity expansion, the company can achieve good growth going ahead. Hariom Pipe Industries’ results in the fourth quarter of FY 2022 have been excellent. The company’s revenue grew 32 per cent year-on-year to Rs 124 crore in the March 2022 quarter. At the same time, the company’s profit after tax has been Rs 10 crore. This has been more than 44 per cent compared to the same period last year.
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