Surya Roshni soars 11%, hits new high on strong growth outlook

With a focus on improvement in product mix in steel pipes segment, the broking firm IDBI Capital expect Surya Roshni's margins to improve over the next two-three years

Shares of Surya Roshni edged higher by 11 per cent to Rs 731.20, also their new high on the BSE, in intra-day trade on Friday on the back of heavy volumes and amid a strong growth outlook. In the past seven trading days, the stock has zoomed 43 per cent, as compared to a 1.7 per cent rise in the S&P BSE Sensex.

Surya is the second-largest manufacturer of steel pipes (contributes 67 per cent to EBITDA) and also the second-largest LED manufacturer in India. In the April-June quarter (Q1FY22), Surya had reported a 64 per cent year-on-year (YoY) jump in