Motilal Oswal Initiates Buy Rating on Jain Resource Recycling with Rs 520 Target

Motilal Oswal has initiated coverage on Jain Resource Recycling with a 'Buy' rating and a target price of Rs 520, indicating a potential upside of around 29-30%. The brokerage highlights the company's dominant position in India's regulated non-ferrous metal recycling sector and expects strong financial growth, projecting a CAGR of 36% in revenue and 56% in net profit from FY25 to FY28. Growth drivers include capacity expansion, product diversification, and favorable sustainability regulations like the Battery Waste Management Rules and Extended Producer Responsibility.