Look at Lumax Auto, target Rs 448: Daljeet Singh Kohli

Daljeet Singh Kohli of India Nivesh Securites told CNBC-TV18, "Lumax Auto's 35 percent business comes from lighting. They are now into value-added products which are plastic moulded products. Profits can actually double in the next two years and in terms of valuations, it is trading at 9 or 10 times which is quite cheap compared to other auto ancillary companies with return on equity more than 20 percent. It makes sense to look at this stock, we have given a target of Rs 448."At 12:48 hrs Lumax Auto Technologies was quoting at Rs 297.70, down Rs 5.10, or 1.68 percent. It has touched an intraday high of Rs 303.00 and an intraday low of Rs 296.