Engineers India Ltd looks attractive: Rajesh Jain

In a chat with ET Now, Rajesh Jain, market strategist, talks about the outlook of Engineers India Ltd.

You have a buy call on Engineers India Ltd. The company is trying to come up with an FPO. It is even seeing a strong order book. Is that what is playing on the stock?

Engineers India Ltd. is a different kind of capital goods sector play. This is a very high end technology in-house, existing with a player. It is entirely the software that it has with itself. It caters to the oil and the engineering sector. We are seeing a lot of traction in new projects out there. The gas and the oil sector are set to boom in this country and over the last couple of decades Engineers India Ltd. has been doing a good service there. It's a very unique kind of company and going forward I see both top line and bottom line growth very significantly and in the follow through offer that is coming, retail is getting an excellent chance to come in at the stock at a discount.