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    Buy Craftsman Automation; target of Rs 3891: Anand Rathi

    Anand Rathi is bullish on Craftsman Automation has recommended buy rating on the stock with a target price of Rs 3891 in its research report dated January 23, 2023.

    Broker Research
    January 25, 2023 / 05:25 PM IST
     
     
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    Anand Rathi's research report on Craftsman Automation

    For Craftsman Automation, strong y/y growth across divisions was the highlight of the quarter. Value addition across the powertrain and aluminium business has sustained in percentage terms; we expect the pace to continue in the near term. Demand for M&HCVs is robust, PVs were good while 2Ws were tepid after the festival season, but are expected to return to normalcy in the long term.

    Outlook

    We maintain a Buy, at a revised TP of Rs3,891 (19x FY25e).