The shares of Prince Pipes and Fittings dropped 2 percent to hit an intraday low of Rs 335 apiece on September 19. This comes after several brokerages flagged demand concerns after an analysts' meet with the company's management.
Motilal Oswal said that PVC (Polyvinyl Chloride) pipes market currently remains under pressure on the back of volatile PVC prices and a weak demand environment. The domestic brokerage added that a delay in implementation of anti-dumping duty (ADD) has created uncertainty within channel partners. Motilal however has a ‘Buy’ rating on the stock.
HDFC Securities flagged concerns over demand outlook and pricing. The brokerage maintained a ‘Reduce’ rating on the stock.
ICICI Securities downgrades stock:
ICICI Securities meanwhile downgraded the shares of Prince Pipes to ‘Add’ from ‘Buy’, but sees a potential pick-up in earnings in the second half of the fiscal year 2026.
Prince Pipes shares recovered some losses to end the session with marginal losses on September 19. The stock was down 0.64 percent to Rs 335 per share at close.
Prince Pipes share price history:
Despite today's losses, the stock has overall made marginal gains in the past five days, and past one month. The shares of the pipe maker have risen more than 34 percent in the past six months, but fell over 22 percent in 2025 so far.
After hitting a 52-week high of Rs 586 apiece in September last year, the stock then dropped around 61 percent to hit a 52-week low of Rs 229.05 apiece. The shares have however recovered nearly 46 percent since then.
(With inputs from Reuters)
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