PI Industries: Preserve ‘maintain’ with a TP of Rs 3,506

On stability, we keep ‘maintain’ with a TP of Rs 3,506 (48x Q3FY23E EPS). The best way ahead: Inorganic progress: We interacted with PI Industries’ joint managing director Rajnish Sarna. Key takeaways: i) The Ind Swift (ISL) acquisition has helped PI enter the pharma phase. ii) Potential for doubling ISL income together with margin growth … Read more