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Buy Ratnamani Metals and Tubes; target of Rs 2225: ICICI Direct

ICICI Direct is bullish on Ratnamani Metals and Tubes recommended buy rating on the stock with a target price of Rs 2225 in its research report dated November 12, 2022.

November 22, 2022 / 07:57 PM IST
 
 
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ICICI Direct's research report on Ratnamani Metals and Tubes


Ratnamani Metals & Tubes (RMTL) is a niche player with superior capabilities in the domestic industrial pipes and tube segment. RMTL manufactures a wide range of stainless steel and carbon steel pipes & tubes, which find application in key end user industries like oil & gas refineries, power, healthcare, etc. RMTL has an impeccable capital allocation strategy and best in class operating margins and return ratios • RMTL has healthy cash flows and a strong balance-sheet. It is one of the few players in the steel pipe sector having net cash position on its balance-sheet.


Outlook


We maintain BUY rating on the stock. We value RMTL at Rs 2225, 28x FY24E EPS.


For all recommendations report, click here


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Ratnamani Metals & Tubes - 14 -11-2022 - icici

Broker Research
first published: Nov 22, 2022 07:57 pm