Equirus Securities has maintained ‘Long’ call on Lloyd Metals, setting a target price of ₹1,600, implying a potential upside of approximately 40.4% from its current market price of ₹1,139.65.
The brokerage highlighted the strength of TEIL, the mine development and operations (MDO) business arm of Thriveni Earthmovers (TEMPL), which supports Lloyd Metals. TEIL has a robust mining portfolio, managing over 1,650 pieces of equipment and boasting an annual excavation capacity exceeding 200 million bank cubic meters (mnbcm).
Equirus expects Lloyd Metals to benefit from this solid operational foundation, driving its long-term growth potential in the mining and operations segment.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult your investment advisor before making any decisions.