Banco a good bet, may see a target of 118: Ashit Suri, JV Capital Services

Ashit Suri, Fundamental Research Analyst, JV Capital Services offers his take on auto ancillary firm Banco, in a chat with ET Now.

Your views on Banco?

The auto space is likely to continue to do well going ahead. Most of the players in the auto ancillary space are increasing their capacities to take care of the demand which is likely to come up. So Banco happens to be one of those players and has been coming up with very good numbers. The valuations are attractive. It is trading in a PE of around 10.2 times. So I see a good upside for this stock from these levels and one could see a target of 118 in the near term.