Stocks to Buy: Nomura sees 35% upside in stock already up 800% this year
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Nomura initiated coverage on Sterlite Technologies with a ‘Buy’ rating and a price target of ₹1,350.
- ✓Shares will be in focus on Tuesday, October 6, after the stock gained nearly 865% this year.
- ✓Nomura said, "STL is well positioned to benefit from this trend through its integrated manufacturing capabilities."
Story at a Glance
- Category
- BUSINESS
- Reported By
- CNBC TV18
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Nomura expects strong industry tailwinds to drive robust growth for Sterlite Technologies, with the brokerage forecasting a 14% compound annual growth rate (CAGR) in optical fibre cable (OFC) demand across its key North American and European markets over CY25–30E.
By Meghna Sen
Shares of Sterlite Technologies Ltd. will be in focus on Tuesday, October 6, after global brokerage firm Nomura initiated coverage on the company with a ‘Buy’ rating and a price target of ₹1,350 per share.
The target price implies a potential upside of around 35% from the stock’s previous closing price of ₹1,003.10.
Nomura expects strong industry tailwinds to drive robust growth for Sterlite Technologies, with the brokerage forecasting a 14% compound annual growth rate (CAGR) in optical fibre cable (OFC) demand across its key North American and European markets over CY25–30E.
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