Get App
Last Updated : Jun 06, 2019 03:27 PM IST | Source:

Buy Maithan Alloys; target of Rs 900: HDFC Securities

HDFC Securities is bullish on Maithan Alloys has recommended buy rating on the stock with a target price of Rs 900 in its research report dated May 27, 2019.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

HDFC Securities' research report on Maithan Alloys

Maithan Alloys is India’s largest producer & exporter of Mn Alloys with over two decades of experience. Manganese alloys are critical for steel manufacturing translating into a large globally addressable market for Maithan. Co’s customers include marquee domestic/global steel majors, with most of them being repeat customers. Co produces ~1% of total global Mn alloy supply, which means there is little offtake risk. This, coupled with the fact that Maithan is amongst the lowest cost producers in the world, makes them amongst the last men standing in case of any global commodity downturn, esp steel. It is also noteworthy that China discourages export of Mn alloys (seen as energy intensive).


We initiate coverage on Maithan Alloys with a BUY rating and a TP of Rs 900 (base case) based on conservative assumptions. Our upside (and downside) cases yield TPs of Rs 1,500 (and 375).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jun 6, 2019 03:27 pm
Follow us on
Available On