After UBS, an international brokerage, began covering Shyam Metalics and Energy, the company’s share price increased by 10% and reached a 52-week high. Shyam Metalics and Energy has received a Buy rating from the global brokerage firm, which highlights the company’s strong growth and transformational journey. UBS has set a target price of ₹1,200 per share, indicating a possible 43% upside.
Shyam Metalics’ stock price opened Thursday’s trading session on the BSE at ₹810 per share. It reached an intraday high of ₹844.85, as well as a low of ₹805.15. The price of the Shyam Metalics shares increased from ₹400 to ₹800 in a year.
According to 5paisa Lead Research Analyst Ruchit Jain, “Shyam Metalics share price has recently formed a Higher Top Higher Bottom structure and is thus in an uptrend. The 40 DEMA at 710 is a good support for the near term. Traders can keep a buy-on-dip approach for this stock.”
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