The share price of Man Industries climbed more than 7% on Friday after brokerage company Emkay Global Financial Services began coverage on the stock with a bullish view. Man Industries shares rose 7.11% to ₹422.95 on the BSE.
Man Industries (India) shares have been rated as a “Buy” by Emkay Global, with a target price of ₹500 per share, meaning a 27% upside.
The brokerage firm estimates the company’s move into the high-margin stainless steel market would cause its margin to increase to 11.1% in FY27E from 9.2% in FY24. The return ratios have improved significantly.
The stock of Man Industries is up 46% year-to-date (YTD) and has increased in value by more than 20% in only one month. Man Industries shares gained more than 165% in a single year.
At 10:45 am, Man Industries shares were trading 5.73% at ₹417.00
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