The company is exploring the possibility of a stock split for the first time ever; it hasn't issued bonus shares to investors either.
Vesuvius India is the second-largest player in the refractory market, with a strong global parentage
On Wednesday, the company also reported a 22.8 percent YoY rise in its revenue from operations at Rs 405.05 crore for Q1FY24 as compared to Rs 329.65 crore in Q1FY23.
Revenue from operations for the quarter grew 22.8 percent YoY at Rs 405.05 crore as compared to Rs 329.65 crore year ago
The benchmark Nifty is likely to march towards 19,300-19,500 levels in coming days, as long as it holds the 19,000 mark, which is an immediate support, then 18,800 levels, experts said
Vesuvius India is a play on the growing steel production in India, given its leadership position in the refractory space
The Sensex was down 413.24 points or 0.66 percent at 61,932.47, and the Nifty was down 112.30 points or 0.61 percent at 18,286.50. About 1,782 shares advanced, 1,634 shares declined, and 133 shares remained unchanged.
Operating margin expanded to 14.46 percent during the quarter under review from 10.24 percent in March quarter of 2022.
ICICI Direct is bullish on Vesuvius India recommended buy rating on the stock with a target price of Rs 1935 in its research report dated March 01, 2023.
MNC parentage, market leadership in refractories segment, top steel makers as customers, and a cash-rich balance sheet are winning factors.
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With new capacity coming up for Vesuvius India in the next one year, we expect higher revenue growth, export opportunities, and market share gains. The risk to our assumption is lower steel production, inability to pass on higher input costs and the increase in royalty rate paid to the holding company. Should you invest? Watch the video to know more
Vesuvius India enjoys MNC parentage and is the market leader in the refractories segment, with top steel makers as its customers and a cash-rich balance sheet
Cochin Shipyard has witnessed a primary trend-line breakout on the weekly chart with strong volume followed by a breakout of Bullish Flag formation.
This steel stock is a proxy play for increasing steel production. As India is likely to witness incremental production of nearly 15-20 million tonnes of steel in the next 3 years, MC Pro expects this company’s revenue to grow at 20% and 12%, respectively for 2022 and 2023 and also expects higher dividend payout which will improve return ratios. Investors with a long-term view and expecting moderate return can accumulate at current levels and add on declines.