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News Topical, Digital Desk : Brokerage firm Nuvama Institutional Equities has given a 'BUY' rating for the long-term on multibagger stock Venus Pipes and has set its target price at Rs 2260 per share. The brokerage believes that the company has more than 80 percent upside potential. Nuvama said that Venus Pipes has increased its FY26 revenue growth guidance from 20 percent to 25 percent, given the strong order book, capacity expansion and increasing share of value-added products.
The company has an order book of Rs 5.6 billion, of which an order of Rs 1.9 billion has been received from a large Indian power equipment manufacturer. At the same time, exports have also grown tremendously and shipments grew 70 per cent year-on-year in the first quarter of FY 2026. The company estimates that capacity utilization will be around 80 per cent this year and new seamless and condenser tube capacity will start contributing from the second half of FY 2026. This is the reason why the management has upgraded the volume growth guidance.
Stock performance The company's stock closed 0.66 per cent higher at Rs 1,317 on Friday. In the last five years, Venus Pipes shares have given multibagger gains to investors by giving more than 295 per cent return. In the last one year, the company's stock has fallen by 41.49 per cent.
Read More: Latest Order News: 3 companies got big orders, action seen in stocks
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