Alchemy Share and Stock Brokers has rated Mahashtra Seamless a ‘buy’

Allied Digital
cmp: Rs 713.95
target price: Rs 1050

Alchemy Share and Stock Brokers has rated Mahashtra Seamless a ���buy��� with a price target of Rs 873.

���With increasing activity E&P (exploration & production) in the oil & gas sector in India, demand for seamless pipes is expected to rise over 10% in the next five years. MSL, being the leader, the company will be the major beneficiary of this demand,��� the Alchemy note to clients said.

���Further, implementation of city gas distribution network (CGD) in 200 cities as planned by Gail will improve the outlook for ERW pipes. MSL, being one the two key players in ERW segment, is set to benefit from increased demand,��� the note added.