New Delhi, March 6 -- Jain Resource Recycling is set for long-term expansion, supported by increasing demand for recycled metals and a regulatory shift that favours established companies, according to brokerage firm Motilal Oswal Financial Services.

The company's strategy involves enhancing capacity, producing value-added products, and fortifying customer relationships, which is expected to lead to sustained improvement in margins.

Additionally, the company is experiencing growth in India's lead and copper demand, outpacing global trends.

The domestic brokerage firm has initiated coverage with a BUY rating and has set a target price of Rs.520, anticipating an upside of up to 30%.

"We expect Jain Resource Recycling to deliver a CAGR of...