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Buy AIA Engineering; target of Rs 315: Sushil Finance
Posted on: June 26th, 2009 and is filed under Brokerage Recommendations.
Sushil Finance has recommended a buy rating on AIA Engineering with a target price of Rs 315, in its June 09, 2009 report.
“AIA has a manufacturing capacity of 165,000 TPA and it had plans to expand another 100,000 TPA capacity, preferably a SEZ, to manufacture high chrome mill internals. AIA would be benefited by both replacement and capex led demand in cement, mining and power utilities across the domestic and international markets. AIA generates 75% of its revenues from replacement demand. At CMP of Rs 240, the stock is available at 11.3x its FY11E EPS of Rs. 21.2 & 2.1x its FY11E ABV. ‘Buy’ with a target price of Rs 315,” says Sushil Finance’s research report.
source: Moneycontrol
Tags: brokerage tips, buy aia engineering, sushil finane
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