Vesuvius India: Breakout from flag-like consolidation. Expected target price of ~7400. Technical View:
Fundamental View: Ongoing and overall promised capex for new product lines shall sustain the earnings momentum - commissioned Mould Flux plant in June End. Expect AlSi as well as Basic Monolithic plant commissioning by Nov 2024. Core and large customers (Tata steel and JSW steel) are expanding capacity. For instance: Tata Steel commissions 5MTPA steel capacity.
Risks: Per steel industry news, cheaper imports from China remains a threat for India’s steel manufacturing sector. Slowdown in the Steel Industry will impact the business. Customer Concentration.
Disc: Hold a position basis evolving fundamentals and price action.