Moneycontrol
Oct 19, 2016 05:12 PM IST | Source: Moneycontrol.com

Buy Sona Koyo Steering Systems; target of Rs 80: Dynamic Levels

Dynamic Levels is bullish on Sona Koyo Steering Systems has recommended buy rating on the stock with a target price of Rs 80 in its research report dated October 19, 2016.

 
 
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Dynamic Levels' research report on Sona Koyo Steering Systems


Sona Koyo Steering Systems Ltd is the flagship company of The Sona Group, engaged in the manufacture of steering systems for the passenger car and utility vehicle market in India. Sona Koyo is the largest manufacturer of steering systems in India, catering to passenger cars, utility vehicles and light commercial vehicles. Sona Koyo has technical and financial collaboration with JTEKT Corporation, Japan (formally known as Koyo Seiko Co. Ltd.), the largest producer of passenger vehicles' steering systems in the world.

Sona Koyo's customers include major vehicle manufactures in India such as Maruti Suzuki, Toyota, Hyundai, Tata Motors, Mahindra & Mahindra, General Motors and Ford. Independently, as well as through its network of overseas joint-venture partners, it exports high quality precision products to USA, Europe and Japan.

We recommend BUY in Sona Koyo @ 66 with the Target of 80 as Sona Koyo is the largest manufacturer of steering systems in India, catering to passenger cars, utility vehicles and light commercial vehicles. Sona Koyo is a multibagger as the price has more than doubled from recent low of 37 to 76. It has strong track record of generating superior shareholder returns higher than the benchmark indices.

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