Astral shares rally 10% following Q1 results; Citi sees target price at Rs 1,900, Nuvama upgrades stock to 'Buy'

Astral Polytechnic shares rallied nearly 10% after the company reported strong financial results for the first quarter of fiscal 2027. The company's profit jumped significantly year-on-year, driven by robust sales growth and improved operational efficiency. This positive performance has caught the attention of several brokerage firms, who have revised their outlook on the stock.

The rally was supported by positive commentary from brokerages like Citi and Nuvama. Citi maintained a 'Buy' rating with a target price of Rs 1,900, while Nuvama upgraded the stock to 'Buy' citing strong pipeline volumes and favorable margin prospects. Other firms like Motilal Oswal also retained a 'Buy' rating, while UBS maintained an 'Accumulate' stance and CLSA held a 'Hold' rating.

For investors, the key focus now shifts to the company's ability to sustain this growth momentum. It will be important to monitor the execution of its expansion plans and how the company manages its costs in the coming quarters to maintain its competitive edge in the market.