Accumulate Astra Microwave: Anagram Research

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Accumulate Astra Microwave: Anagram Research

Anagram Research has recommended to accumulate Astra Microwave, in its report dated 30th August 2008.

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Anagram Research has recommended to accumulate Astra Microwave , in its report dated 30th August 2008.

"At CMP of Rs 54.55, the stock is trading at 14 x its FY08 EPS of Rs 3.88. After the Defence Procurement Procedure 2006 made it essential for overseas suppliers to have value addition from within India - or called offsets - for major defence contracts. The offset stipulation would drive business opportunities in the defence sector in the medium term. DPP-2008 has been announced and will come into effect from September 1".

"Looking at Government focus towards defense spending & making essential for overseas suppliers for value addition within India, we think that it offers huge opportunity for players like Astra Microwave. We recommend Investors to "Accumulate" the stock at current levels".

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