Emkay Global Financial recommended hold rating on Amber Enterprises with a target price of Rs 1225 in its research report dated June 01, 2020.
"Voltas will maintain its leadership position while Amber will gain from structural shift in RAC manufacturing to India," said Edelweiss Research.
Edelweiss slashed earnings by 9–18 percent for stocks in their coverage. It remains positive on Amber Enterprises which was recently added to the model portfolio along with KEI Industries, and Voltas.
The good news is that the rally is here to stay and experts see the momentum continue and take Nifty50 towards 12,700-13,000 in the next 12 months.
Trends on SGX Nifty indicate a flat opening for the broader index in India, with a 24 points loss or 0.21 percent. The Nifty futures were trading around 11,285-level on the Singaporean Exchange.
Auto, corporate banks, telecom, and metals are likely to post profit contraction or losses. There is likely to be a sharp slowdown in IT, say experts.
A strong order book, relationships with marquee Indian AC brands, impetus towards high-margin inverter ACs, benefits of recent acquisitions and momentum in the AC component sales division should augur well for the company.
Tailwinds such as low penetration of ACs in India, high entry barriers, increasing inverter AC sales, and higher disposable incomes are expected to augur well for the company.
A list of important headlines from across news agencies that could help in your trade today.
Jasbir Singh, Chairman & CEO, Amber Enterprises is confident of maintaining margins at 9% levels
The company had raised Rs 179 crore from anchor investors yesterday.
With marquee clientele in its kitty and a higher share of margin-accretive original design manufacturing (ODM) contracts in its revenue, the company has all the right ingredients for a profitable journey.
SPA Research has come out with its report on Amber Enterprises India IPO , The research firm has recommended to “ Subscribe ” the IPO in its research report as on January 17, 2018
The company's IPO committee has finalised allocation of 20,80,459 equity shares to 15 anchor investors at Rs 859 apiece, also the upper price band for the offer, Amber Enterprises informed the stock exchanges.
HEM Securities has come out with its report on Amber Enterprises India IPO , The research firm has recommended to “ Subscribe ” the IPO in its research report as on January 15, 2018
The IPO comprises fresh issue of equity shares worth Rs 450 crore and sale of scrips to the tune of Rs 105 crore by promoters Jasbir Singh and Daljit Singh.
In a tweet, Competition Commission of India (CCI) said it "approves acquisition of 2,00,000 CCP shares, 36 percent of issued capital of Amber Enterprises (India) Pvt Ltd by Goldman Sachs entities".