Buy Lumax Auto Technologies; target of Rs 682: Sharekhan

Sharekhan is bullish on Lumax Auto Technologies has recommended buy rating on the stock with a target price of Rs 682 in its research report dated September 16, 2024.

Broker Research

September 18, 2024 / 11:16 IST

Buy

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Sharekhan's research report on Lumax Auto Technologies

Acquisition of Greenfuel marks LATL’s foray into alternative fuel segment; acquisition is EPS accretive. The strategic move positions Lumax to capitalize on the anticipated growth of the CNG vehicle market in India.

Outlook

We maintain a Buy rating on the stock with a revised price target (PT) of Rs. 682, on anticipated improvement in product mix, increased content per vehicle, and expanded growth opportunities supported by inorganic growth opportunities. Stock trades at P/E multiple of 17.6x and EV/EBITDA multiple of 7.7x its FY26 estimates.

For all recommendations report, click here

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Lumax Auto Technologies - 18092024 - khan

Broker Research

first published: Sep 18, 2024 11:16 am

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