IIFL has put out a note where they have initiated a buy on Shyam Metalics and Energy stock with a target price of Rs 514 which is a 60 percent potential upside from current levels.

They believe as a diversified player in the steel supply, the company is poised to grow the capacity by 2x in the next few years. The company has a very strong focus on cost. They have a well-sorted logistics and they are dependent on low cost will mean that the higher margins should sustain going forward as well.

Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.

First Published:Dec 17, 2021 9:39 AM IST