JM Financial recommends buying Prince Pipes & Fittings with target price of Rs 770

JM Financial recommends buying Prince Pipes & Fittings with target price of Rs 770

Prince Pipes & Fittings Ltd., incorporated in the year 1987, is a Small Cap company operating in the Plastics sector. The company has a market cap of Rs 7753.65 Crore. Promoters held 60.94% stake in the company as of 30-Jun-2023, while Foreign Institutional Investors (FIIs) owned 6.12% and Domestic Institutional Investors (DIIs) owned 16.38%. JM Financial has recommended a buy call on Prince Pipes & Fittings Ltd. with a target price of Rs 770, while the current market price stands at Rs 699.85. In the quarter ended 30-06-2023, the company reported a Standalone Total Income of Rs 557.35 Crore, a decrease of 27.41% from the last quarter. The company’s net profit after tax in the latest quarter was Rs 19.62 Crore. Prince Pipes & Fittings Ltd. offers a range of products in the Pipes & Fittings segment and has been diversifying its products and working on brand-building efforts to improve the enterprise business and distribution reach. The company is well-placed to benefit from the recovery in the real estate sector. Promoters hold the majority stake in the company, while FIIs and DIIs also have significant ownership. For more information, please refer to the full article.

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