Analyst's Pick: SMALL CAP: ICICI Securities
Automotive Axle derives major revenues from the top two commercial vehicle makers Ashok Leyland and Tata Motors. They have reported strong growth in the past few months, indicating the revival of the segment.
By ET Bureau |
Automotive Axle
CMP: Rs 420
The company derives major revenues from the top two commercial vehicle makers Ashok Leyland and Tata Motors. They have reported strong growth in the past few months, indicating the revival of the segment.
New order intake by these key clients from the Jawaharlal Nehru National Urban Renewal Mission has also enhanced demand for bus axles. We expect, AAL’s capacity utilisation to improve to 36 per cent in FY10 and 40 per cent in FY11.
CMP: Rs 420
The company derives major revenues from the top two commercial vehicle makers Ashok Leyland and Tata Motors. They have reported strong growth in the past few months, indicating the revival of the segment.
New order intake by these key clients from the Jawaharlal Nehru National Urban Renewal Mission has also enhanced demand for bus axles. We expect, AAL’s capacity utilisation to improve to 36 per cent in FY10 and 40 per cent in FY11.
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