Anand Rathi is bullish on AIA Engineering has recommended buy rating on the stock with a target price of Rs 2218 in its research report dated April 15, 2019.
Anand Rathi's research report on AIA Engineering
Customers added in the gold, copper and platinum sectors should lead to healthy volume growth for AIA Engineering. A call with an expert affirms stirring prospects for the company in the long term in mining-grinding media. The higher entry barrier (technological advances) and deeper penetration are likely to keep good volume growth at least for the next five years.
We expect earnings to clock a 21% CAGR over FY18-21. Thus, we retain our Buy rating, with our target price of `2,218, at 27xFY21e earnings.
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