454.0500 -6.10 (-1.33%)
NSE Jan 16, 2026 11:33 AM
Volume: 19,768
 

454.05
-1.33%
Monarch Networth Capital Limited
We initiate coverage on Refractories, riding on the current boom in the steel industry. Heavy financial stimulus for infrastructure projects - domestic and global is expected to keep demand for refractories robust in the near future. Historically, refractory companies have been steady revenue compounder with stable margins, net cash balance sheets and superior return ratios, a remarkable contrast to its customer steel sector, thereby largely obviating the severe cyclicity of commodity companies. We expect recycling and localisation to support margins for refractory players. We initiate on IFGL Refractories and RHI Magnesita India (RHIM) with a BUY rating with IFGL being our preferred pick....
RHI Magnesita India Ltd. is trading above its 30 day SMA of 451.8
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