New Delhi. For a long time, the stock of PI Industries has been trading almost spot. In the year 2024, this stock has given a return of 9 percent so far. At the same time, investors who invested in this stock in a year have suffered a loss of about one and a half percent. In the last trading session i.e. on Friday, the company’s shares saw a decline of 0.43 percent on NSE and the stock closed at Rs 3802.95. Now there is a possibility of a rise in this stock. Brokerage firm Sharekhan has advised investors to buy PI Industries shares. The brokerage says that in the coming time, this stock can earn up to 16 percent.
Sharekhan said in its report that PI Industries has offered to acquire Plant Health Care PLC (PHC), a UK-based listed company in the agricultural biological sector, for a sum of 32.8 million pounds. It has experience in protein/peptide technology. PHC has presence in major markets like the US, Brazil, Europe and Mexico. Its revenue in CY23 was $11 million and its gross margin was 60 per cent.
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The brokerage further said, “The company has currently reported a loss. Its revenue is expected to grow rapidly as the biologics industry is expected to grow at 13 per cent CAGR by FY28. The company’s revenue grew 72 per cent year-on-year in YTD CY24.
What is the target price of PI Industries
Brokerage firm Sharekhan has advised investors to buy shares of PI Industries. In its research report dated June 27, 2024, the brokerage set the target price of this stock at Rs 4400. Accordingly, the company’s shares are expected to rise by about 16 per cent. In the last one month, the shares of PI Industries have gained about 5 per cent. In the last 6 months, the stock has given a return of 9 per cent. In the last one year, investors have suffered a loss of one and a half per cent. However, in the last 5 years, it has made a good profit of 222 per cent.
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Tag: business news, Money making tips, Share Market, Stock Tips
first published : July 1, 2024, 07:14 IST
