Mukul Agrawal-owned smallcap defence stock zooms 11% after Antique gives big target price
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Shares of Mukul Agrawal-owned multibagger smallcap defence stock PTC Industries rallied 11% to the day's high of Rs 8,650 after domestic brokerage firm Antique Broking initiated coverage on the company with a ‘buy’ rating and target price of Rs 13,010. “PTC Industries (PTC) is emerging as India's leading manufacturer of titanium and other super alloys-materials and castings, catering to the entire spectrum of aerospace and defence sectors,” said a report by Antique. PTC's closely guarded manufacturing technologies and agreements, providing long-term order book visibility set the base for the company's growth potential. The company's castings segment remains highly value additive while Titanium being the heart of aerospace manufacturing amid the increased geopolitical tensions only further pushes the case. “We believe that the company will be able to grow its revenue 11x by FY28E and net profit by over 26x to INR 10.8 b...