Joindre Capital is bullish on Sundram Fasteners has recommended buy rating on the stock with a target price of Rs 600 in its research report dated 07 September 2017.
Joindre Capital's research report on Sundram Fasteners
Sundram Fasteners Ltd, (SFL) a TVS Group company is one of the leading auto component manufacturers in India. SFL’s product range includes high -tensile fasteners, powder metal components, cold extruded parts, hot forged components, radiator caps, automotive pumps, gear shifters, gears and couplings, and iron powder.SFLhas 10 manufacturing plants in Tamil Nadu and one each in Andhra Pradesh Pondicherry and Uttarakhand. Apart from this SFL has subsidiaries operating in China, UK and Germany
Hence we believe that the SFL stock should be purchased at the current price for a price target of around Rs 600 over the next 12 to 18 months.
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