International Combustion has target of Rs 500: G Shah

Gaurang Shah of Geojit Financial Services is of the view that International Combustion has target of Rs 500.

Shah told CNBC-TV18, "The rationale behind choosing International Combustion is that it is a material handling company, which manufactures gearboxes as well. It has a huge segment as far as products are concerned for material handling and the kind of growth that we have seen is also quite robust. With the kind of specialised product range that it has got and of course given the fact that most corporate are going ahead with their capex plans, definitely they will require all these materials manufactured by International Combustion. So from that point of view, with the growth potential and the future ahead, we have a price target of around Rs 500."