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Buy AIA Engineering; target of Rs 3240: ICICI Direct

ICICI Direct is bullish on AIA Engineering recommended buy rating on the stock with a target price of Rs 3240 in its research report dated November 15, 2022.

November 24, 2022 / 03:43 PM IST
 
 
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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 3240 i.e. 35x P/E on FY24E EPS.


 For all recommendations report, click here

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AIA Engineering - 15 -11-2022 - icici
Broker Research
first published: Nov 24, 2022 03:43 pm