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News Topical, Digital Desk : Stock to Buy: Shares of Midwest Ltd. jumped 4% on Friday, December 26. The gain came after a report gave the company its first-ever analyst coverage and projected a 23% upside potential.

Motilal Oswal initiated coverage on Midwest, assigning it a 'Buy' rating and setting a target price of ₹2,000 per share. In the Bull Case Scenario, the brokerage has assigned a target of ₹2,500, implying an upside of 54% from Wednesday's closing price. According to Motilal Oswal, a market leader in Black Galaxy Granite, Midwest is India's largest producer and exporter of Black Galaxy Granite. The company holds over 60% of India's export market. Absolute Black is also a leading player in the granite segment. With a strong business model and rapidly growing earnings, the company operates 20 mines. The company reported revenues of ₹630 crore in FY25, achieving a CAGR of 21%+ over the past five years. The brokerage estimates granite volumes could reach 1.5 lakh cbm by FY28, ensuring sustained earnings growth. 


Read More: Stock Crash: Stocks fell by up to 4% on news of changes in transaction fees.

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