Buy Mid Cap Plastics Stock Showing Potential To Surge, TP Rs 770: JM Financial

Brokerage firm JM Financial has assigned buy call to mid-cap plastics stock, Prince Pipes & Fittings Ltd with target price of Rs 770 per share. Current market price of Prince Pipes share is Rs 697.80 per share on BSE. Prince Pipes stock offered return of 183% in last 3-years and 30% return in last 6-months. Check details below:

Prince Pipes Stock Performance & Return Over Years: Current market price of Prince Pipes share is Rs 697.80 apiece. Its 52-week high price is Rs 759.50 per share and 52-week low price is Rs 513.10 apiece, respectively. The company has a market capitalisation of Rs 7714.95 crore. Prince Pipes shares offered return of 21% return in last 1-year, gained 1% in last 2-years, and soared 183% in last 3-years.

Prince Pipes Financials: The company for the quarter ended June 30, 2023 announced its net sales at Rs 553.55 crore, down 8.36% as against Rs 604.08 crore in June 2022. It announced its quarterly net profit at Rs 19.62 crore in June 2023, up 22.42% as compared to Rs 16.03 crore in June 2022. The company's EBITDA stood at Rs 49.11 crore in June 2023, up 8.92% as against Rs 45.09 crore in June 2022.

Prince Pipes About: Incorporated in 1987 Mumbai based, Prince Pipes and Fittings Limited is one of India's largest integrated piping solutions & multi polymer manufacturers. Over its 35-year journey, Prince Pipes has evolved into India's third-largest PVC pipes manufacturers and one of the fastest growing companies in the industry. In December 2021, Prince Pipes was inducted into the Fortune India 500 rankings. The company manufactures integrated piping solutions using four types of polymers - CPVC, UPVC, HDPE and PP-R. Leading brands of the company are Prince Piping Systems and Trubore, according to its LinkedIn page.

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