IIFL Securities Stock Idea: Buy Engineers India with Target Rs 307
IIFL Securities recommends buying Engineers India shares at the current market price of Rs 298.55. The brokerage firm has set a target price of Rs 307 for the stock, representing a potential upside of over 2.8%. Engineers India is an Indian public sector company engaged in providing engineering, procurement, construction, and project management services in the hydrocarbons sector. The company has a strong order book and is expected to benefit from the ongoing recovery in the oil and gas industry.
About Engineers India:
Engineers India Ltd. (EIL) is a leading engineering consultancy and EPC company listed on the National Stock Exchange (NSE) of India. Established in 1958, EIL provides a wide range of services, including project management, engineering design, procurement, construction supervision, and operation and maintenance support. With its expertise in the oil and gas, petrochemicals, refining, and infrastructure sectors, EIL has a global presence and has executed projects in over 100 countries. The company's strong financial performance, technical capabilities, and commitment to quality have earned it recognition as a reliable and trusted partner for major clients worldwide.
52 Week Price Trend:
Engineers India (NSE: ENGINEERSIN) is currently trading at Rs 298.55, within the range of its 52-week high of Rs 273.9 and low of Rs 70.05. Over the past year, the stock has exhibited significant volatility, fluctuating within a wide range. This indicates that the market sentiment towards the company has been uncertain, potentially influenced by various factors such as industry trends, business performance, and overall market conditions. Investors considering Engineers India should carefully evaluate the company's fundamentals, market trends, and potential risks before making investment decisions.
Stratzy's MOST Analysis:
Based on Stratzy's MOST framework, ENGINERSIN has received a rating of BB. This rating is an aggregation of scores in the areas of Management, Outlook, Safety, and Trend. A score of BB indicates that ENGINERSIN has medium fundamental risks in these areas, positioning the company as a moderately risky investment option.
Company's Fundamentals:
Engineers India (NSE: ENGINEERSIN) holds a stock PE ratio of 23.38, indicating that investors are willing to pay Rs.23.38 for every rupee of earnings. Its PB ratio of 5.62 suggests that the company's market value is 5.62 times its book value, indicating potential undervaluation. The dividend yield of 1.39% represents the percentage of the current stock price that investors receive as dividends, offering a modest income stream. These metrics provide insights into the company's valuation, financial health, and potential returns for investors seeking income and growth.
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Fundamental and Technical information provided in this blog were last updated on 12 Jul, 2024
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