Surya Roshni is currently the top gainer on the BSE; from its previous close of Rs.381.15, the stock opened higher at Rs.385.65 and went on to hit the 20% UC of the day at Rs.457.35.
This sudden perk of interest in the stock is on future prospects looking bright for its for pipes and home appliances segment, especially from rural India, mainly from sectors into agriculture, manufacturing, exports. This comes from the Annual Report released yesterday.
It also expects major demand to come through public and private capex outlay in infrastructure, especially for airport, metros, Urbanisation, Jal Jeevan Mission, River InterLinking Projects, etc.
The company, in its Annual Report said that Govt initiatives such as Housing for All, ‘Nal se Jal’, Project AMRUT and Swachh Bharat Mission means demand outlook for non-agricultural pipes appears to be good. Also with major urban real estate markets showing signs of a sustained recovery, sector is expected to see an average annual growth of 10%.
mainly from sectors into agriculture, manufacturing, exports.