BUZZ-India's Shyam Metalics and Energy rises after Jefferies hikes target price on growth outlook

Jefferies Financial Group Inc.

Jefferies Financial Group Inc.

JEF

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** Shares of Shyam Metalics and Energy SHYE.NS rise 3.2% to 986.12 rupees

** Jefferies ("buy", raises TP to 1,150 rupees from 1,040 rupees) says co offers one of the strongest growth profiles in the Indian metals sector, expecting 16% EBITDA CAGR over FY26-FY29

** Flags sharp steel price declines and delays in capacity additions as key risks

** At investor day, co reiterates plans to nearly triple EBITDA to 62 billion rupees ($656.36 million) by FY31 and expand capacity across carbon steel, stainless steel and sponge iron

** YTD stock up 16.42%

($1 = 94.4600 Indian rupees)


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