Buy AIA Engineering, target price Rs 2000: IIFL

IIFL has given a buy rating to AIA Engineering with a target price of Rs 2000. The share price moved up by 2.63 per cent from its previous close of Rs 1869.10. The stock’s last traded price is Rs 1918.35.

AIA Engineering Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 18167.05 Crore) operating in Engineering sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 719.89 Crore, up 24.04 % from last quarter Sales of Rs 580.35 Crore and up 6.44 % from last year same quarter Sales of Rs 676.35 Crore Company reported net profit after tax of Rs 143.45 Crore in latest quarter.


Investment Rationale
Stock has given a consolidation breakout on the daily chart.

Promoter/FII Holdings
Promoters held 58.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 20.8 per cent, DIIs 17.8 per cent and public and others 2.9 per cent.