P-Sec bullish on Clutch Auto

The P-Sec report on Clutch Auto :

“Clutch auto has bagged an order worth USD 1 million from a European auto part maker to supply clutch assembly and will commence supplies from January. The company is also in advanced talks with General Motors and a US based heavy truck maker in event of the deal fructifying, things will augur well for clutch auto. With strong overseas orders flowing in we expect clutch auto to post strong exports growth.”

“The company posted strong results during second quarter. The stock trades at 8x its FY08P earnings, we recommend buy.”