Vesuvius India: Breakout from flag-like consolidation. Expected target price of ~7400. Technical View:
Fundamental View: Ongoing and overall promised capex for new product lines shall sustain the earnings momentum – commissioned Mould Flux plant in June End. Expect AlSi as well as Basic Monolithic plant commissioning by Nov 2024. Tata steel and JSW steel are expanding capacity. For instance: Tata Steel commissions 5MTPA steel capacity.
Risk: Per steel industry news, cheaper imports from China remains a threat for India’s steel manufacturing sector. Slowdown in the Steel Industry will impact the business.
Disc: Hold a position basis evolving fundamentals and price action.
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