PGIM India’s Aniruddha Naha flagged a 3–4 quarter upside for metal tube manufacturers, noting that the sector’s prolonged correction has left earnings bases lower and demand improving.
He cautioned that midcap valuations remain stretched, but underscored a shift toward largecaps that could offer limited downside exposure.
Naha highlighted that select smallcap auto‑ancillary names have slipped to more reasonable valuations, creating a potential window for price re‑acceleration.
With the commodity cycle poised to lift metals and energy, PGIM will revisit guidance as FY28 earnings roll in, while keeping an eye on FY29 projections.