India's Bansal Wire gains after Investec starts coverage with "buy"
** Shares of newly-listed Bansal Wire Industries BANW.NS rise 3.2% to 363.4 rupees apiece, on course to snap a three-session losing run
** Rise after Investec initiates coverage of steel wire maker's stock with a "buy" recommendation
** Target price set at 440 rupees, an implied upside of 25%
** BANW has "created a niche for itself in the commoditized steel/stainless steel wire market by reducing costs, offering the widest product range and diversification," says Investec
** Adds BANW's initiatives to foray into steel cords and backward integration of stainless steel rods, focus on automation to drive 40% EBITDA CAGR growth over fiscal years 2024-2027
** Says valuations look undemanding due to strong growth potential
** BANW has risen about 42% over its issue price of 256 rupees since trading debut on July 10
Reporting by Bharath Rajeswaran in Bengaluru
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