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Buy AIA Engineering: target of Rs 3010: ICICI Direct

ICICI Direct is bullish on AIA Engineering has recommended buy rating on the stock with a target price of Rs 3010 in its research report dated August 10, 2022.

August 11, 2022 / 05:30 PM IST
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Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.

 
 
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ICICI Direct's research report on AIA Engineering


AIA Engineering (AIA) is India’s largest manufacturer and supplier of high chrome wear, corrosion and abrasion resistance castings used in cement, mining and thermal power plants (or mills). Products include tube mill internals (grinding media, shell liners, diaphragm), HRCS castings & crusher parts for cement, mining and power • The company is the second largest hi-chrome producer in the world.



Outlook


We remain long term positive and retain our BUY rating on the stock. We value AIA at Rs 3010 i.e. 35x P/E on FY24E EPS.

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AIA Engineering - 100822 -ic

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first published: Aug 11, 2022 05:30 pm
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