Small Cap Engineering Stock Poised For Powerful Performance, Nuvama Sets PT Rs 650; Buy

Small cap company engaged in heavy electrical equipment industry, Skipper Ltd shares today skyrocketed by over 15.20% soon after global brokerage firm Nuvama issued buy call with target price of Rs 650 apiece. If you buy Skipper Ltd share today at current market price of Rs 511.50 per share, you can fetch likely returns of 44.67%. The company's market capitalisation on BSE stood at Rs 5746.81 crores. Skipper Ltd shares gained over 113% so far in 2024 and 581% in last 2-years. Skipper declared a total of 11 dividends since September 17, 2014. FII/FPI have decreased holdings from 4.60% to 3.64% in June 2024 quarter. Number of FII/FPI investors increased from 27 to 32 in June 2024 quarter. Check details below:

Nuvama Upbeat on Skipper Shares: Nuvama assigned buy call to Skipper shares with target price of Rs 650 per share for a target time of 12 months. The brokerage house has set a target price of Rs 740 per share in bull case.
With its presence across the T&D ecosystem, Nuvama anticipates Skipper Ltd is poised for a powerful performance driven by proposed NEP with indicative transmission capex of Rs 9.2 lakh crore (over FY22-32E), and a global wave of Renewable Energy (RE) transition driving HV (high-voltage) T&D capex. The analyst highlighted, "Skipper is ready to harness several tailwinds: i) power T&D capex of ₹9.2 trillion over 2022-32; ii) improving product mix with a shift to margin-accretive HV segment; iii) doubling of capacity in four-five years; iv) a well-capitalised balance sheet with FY24 D/E at 0.49x and OPM improving from 9.7% in FY24 to 10.5% by FY27E (guidance of 11% for three years)."

Skipper Shares Performance: The 52-week high price of Skipper Ltd shares on BSE is Rs 513.90 per share (as on 08/10/2024) and 52-week low price is Rs 197.35 per share (as on 25/10/2023), respectively. Skipper shares today hit fresh 52-week high. Skipper shares offered eye-catching returns of 19% in last 1-month, gained 126% in last 1-year and soared 896% in last 5-years.

Skipper About: Skipper Limited established in 1981 is one of the leading companies in the Power Transmission & Distribution and the Polymer segment. With over 42+ years of domain knowledge it is largest in India and tenth globally basis the manufacturing capacity. Skipper differentiates its offerings with high quality but cost effective solution for infrastructure providers and telecom operators. Its international footprint spans across continents such as Latin America, Europe, and Africa and is spread across 55+ countries with presence across sub-segments such as Towers, EPC, Monopoles, Poles and Railway Electrification Structures. Skipper Limited is a national powerhouse in the Polymer pipe business.

Disclaimer:

The stock has been picked from the brokerage report of Nuvama. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.