New Delhi, Aug. 13 -- Shares of Venus Pipes & Tubes Limited surged over 4 percent in intra-day trades on Wednesday, August 13, following the company's Q1FY26 results. Meanwhile, a positive review by Nuvama also aided the sentiment. The brokerage believes the company is well-positioned for robust growth and reiterated a 'BUY' rating with a revised target price of Rs.2,290, up from Rs.2,120, based on 25x Q1FY28E EPS.

The Gujarat-based stainless steel pipes manufacturer posted revenue of Rs.276.4 crore in Q1, up 15.1 percent from Rs.240.1 crore in the same quarter last year. Net profit for the quarter stood at Rs.24.8 crore, down 9.8 percent from Rs.27.5 crore in Q1FY25, Nuvama noted.

Venus Pipes' top line was supported by robust volume gr...