Initiating Coverage: AIA ENGINEERING Ltd (BSE: 532683)

Initiating Coverage: AIA ENGINEERING Ltd (BSE: 532683)

Initiating Coverage: We at Jainam Share Consultants Pvt. Ltd. are  “NEUTRAL”  on AIA ENGINEERING Ltd. (BSE: 532683) due to limited upside potential at current market price.

AIA is one of the largest high chrome casting producer across the globe and having global reach in more than 120 countries. Company is strengthening the customer’s experience by offering customized applications through innovation and design changes as per their needs and requirements.

Company is currently expanding its production capacity from 34,00,00 Mt to 4,40,000 Mt by brownfield expansion at its existing plant in GIDC Kerala, near Ahmedabad in two phases of 50,000 Mt each being operational in FY19-20.

The company’s dominant position in the limited competition high chrome mill internals market and its largely internally funded capex programs will boost earnings growth in the next few years and keep AIA on a momentum.

Further, Contact: 0261-6725518

Initiating Coverage: Gulf Oil Lubricant India Limited (BSE: 538567)

Initiating Coverage: Gulf Oil Lubricant India Limited (BSE: 538567)

Initiating Coverage: We at Jainam Share Consultants Pvt. Ltd. are neutral on Gulf Oil Lubricant India Limited (BSE: 538567) and recommend to investors to “Buy on Dips” Gulf Oil Lubricant India Limited due to limited upside of 23-28% with horizon of 2.5 years.
Gulf Oil Lubricant India Limited is at No. 3 position in private players in lubricant industry with more than 10 OEM tie ups and strong distribution network of 60000+ retailers, 320 auto distributors and 33 depots and in industrial channel it has 200+ direct industries and 50+ industrial distributors. With a total capacity of 140000 kl, Gulf is growing at 12 % CAGR in terms of volume with 68000kl in FY15 to 95000kl in FY18.

Further, Contact: 0261-6725518
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