New Delhi, Aug. 17 -- Shares of SPML Infra rose over 2% on Monday, 17 August, after Arihant Capital Markets initiated coverage on the infrastructure company with a "Buy" rating and a target price of Rs.366, implying a potential upside of around 92.6% from the previous closing price of Rs.190.

The brokerage believes SPML Infra is entering FY27 with its key balance-sheet and funding constraints largely resolved, shifting the focus towards execution and order-book conversion. Arihant expects the company's revenue to more than double by FY28, supported by its Rs.5,369-crore order book, while improving margins and a stronger financial position could further drive earnings growth.

Arihant Capital sees a significant turnaround opportunity in S...