Garuda Construction, Hariom Pipe, JSW Infra: SEBI RA Gunjan Kumar Sees Upside Potential

The analyst has highlighted these three stocks for their strong order books, multi-quarter high revenues, and bullish chart patterns.

Garuda Construction and Engineering, Hariom Pipe Industries, and JSW Infrastructure are compelling stock picks due to strong fundamentals, robust institutional participation, and bullish technical signals, according to SEBI-registered analyst Gunjan Kumar.

Garuda Construction

Garuda Construction, a near-debt-free company specializing in EPC solutions for residential, commercial, infrastructure, and industrial projects, reported its highest revenue and profit since listing. 

The firm boasts a healthy order book of ₹1,408.27 crore as of September 2024, with year-on-year sales growth exceeding 30%. 

Kumar noted a recent resistance breakout on the charts, with the stock showing strength above ₹126 and support near ₹109 on a closing basis.

Hariom Pipe Industries

Hariom Pipe Industries, a manufacturer of steel pipes and coils for infrastructure and industrial use, is targeting a 30% volume CAGR over the next 2-3 years, aiming for revenue of ₹2,500 crore by March 2026. 

The company has attracted increased stakes from FIIs and DIIs in the last quarter, with double-digit year-on-year sales growth and its highest revenue in 13 quarters. 

Technically, the stock has broken out of a consolidation box pattern and looks poised above ₹440, supported by ₹379 on closing.

JSW Infrastructure

JSW Infrastructure, India’s second-largest commercial port operator by cargo handling capacity and a direct competitor to Adani Ports, is planning to expand port capacity to 400 MTPA by 2030 amid strong sector growth. 

The company posted its highest revenue and net profit in the past 12 quarters and saw increased FII holdings last quarter. 

Kumar flagged a descending triangle pattern breakout, with technical support near ₹279 and strength above ₹310.

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