Hold Maharashtra Seamless; target of Rs 360: ICICI Direct

Zydus Wellness | Brokerage: Sharekhan | Rating: Buy | Target: Rs 1,472 | Return: 18 percent

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26 Aug, 2025 12:21

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ICICI Direct's research report on Maharashtra Seamless

In February 2017, the Government of India imposed a definitive antidumping duty (ADD) on the imports of seamless tubes and pipes from China for five years (from the date of imposition of provisional antidumping duty, that is, May 17, 2016).

Outlook

While the ERW pipes sales volume is expected to grow at a CAGR of 5% in FY17-19E. We value the company on an SOTP basis and, subsequently, arrive at a target price of Rs 360. We have a HOLD recommendation on the stock.

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