Stock market: Brokerage advised to buy the stock which was inactive for a long time.

New Delhi. Shares of PI Industries have been trading near spot for quite some time now. The stock has given a return of 9% so far in the year 2024. At the same time, investors investing in this stock have lost about one and a half percent in a year. Shares of the company saw a decline of 0.43% in the last trading session i.e. Friday on the NSE and the share closed at Rs 3802.95. Now this stock is expected to increase. Brokerage firm Sharekhan has advised investors to buy shares of PI Industries. The brokerage says the stock could earn up to 16 percent in the near term.

Sharekhan said in his report that PI Industries has offered to acquire Plant Health Care PLC (PHC), a UK-based listed company in the agro-biological sector, for an amount of 32.8 million pounds. He has experience in protein/peptide technology. PHC has presence in major markets like USA, Brazil, Europe and Mexico. Its revenue in CY23 was $11 million and its gross margin was 60 percent.

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The brokerage added, “The company has currently recorded a loss. Its revenue is expected to grow rapidly as the biologics industry is expected to grow at a CAGR of 13 percent till FY28. The company’s revenue in YTD CY24 is The year has increased by 72%.

What is PI Industries’ target price?
Brokerage firm Sharekhan has advised investors to buy shares of PI Industries. In its research report dated June 27, 2024, the brokerage fixed the target price of the stock at Rs.4400. Accordingly, the company’s shares are expected to rise by around 16%. Shares of PI Industries have gained nearly 5 percent in the past one month. The stock has returned 9 percent in the last 6 months. In the last one year, investors have lost one and a half percent. However, in the last 5 years it has made a good return of 222%.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

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