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IIFL initiates buy on Shyam Metalics; check out target price, other details

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In our daily section, Standout Brokerage Report, we look at a report by IIFL on Shyam Metalics and Energy stock.

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.
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