Asbestos sheet manufacturers under focus. Attaching weekly charts for Everest, HIL, Sahyadri & Visaka.
HIL results indicated the pressure on asbestos segment has started to reduce resulting into margins improvement.
Stock to Focus – Everest Industries, since the time the pressure on raw material prices of asbestos have begun other 3 players have halved from their tops whereas as Everest has doubled indicating leadership characteristic and immense relative strength.
In the meantime there has been management change + more capacity expansion focused on pre – engineered building segment. Also pre-engineered segment recorded best realization for FY23. With pressure easing on asbestos side operating leverage will kick-in.
MIT (Kenneth) has also acquired almost around 10% in company.
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