The IIFL Securities Report: Buy Azad Engineering - September 20

IIFL Securities recommends buying shares of Azad Engineering, with a target price of Rs 1560, representing a potential upside of around 4.6%. The current market price of Azad Engineering is Rs 1490.3. The company is a leading supplier of castings and machined components to the automotive and engineering industries. IIFL Securities believes that the company's strong order book, cost-cutting initiatives, and strategic partnerships will drive its future growth.

About Azad Engineering:

Azad Engineering Limited, listed on the National Stock Exchange (NSE) of India, is a leading manufacturer of cryogenic storage and transportation equipment. The company offers a wide range of products, including cryogenic tanks, vacuum insulated vessels, and cryogenic transportation systems. Azad Engineering's products are used in various industries, including aerospace, healthcare, and food processing. The company has a strong R&D team and is committed to providing innovative and high-quality products to its customers. Azad Engineering has a presence in over 25 countries and is a trusted supplier to many of the world's leading cryogenic companies.

52 Week Price Trend:

Azad Engineering's current market price of Rs 1490.3 signifies a significant premium over its 52-week low of Rs 641.95, indicating a substantial 132.4% increase. However, it remains 15.9% below its 52-week high of Rs 1760.4, suggesting potential room for further appreciation. Investors should carefully consider the company's fundamentals, growth prospects, and overall market conditions before making investment decisions.

Stratzy's MOST Analysis:

Stratzy's MOST framework assigns a BB- rating to AZAD, indicating a medium level of fundamental risk. This rating is determined by assessing the company's Management, Outlook, Safety, and Trend. AZAD's favorable Management and Outlook are offset by potential concerns in Safety and Trend, resulting in an overall BB- rating. This suggests that investors should exercise caution when considering an investment in AZAD, as there may be some underlying risks to consider.

Fundamental and Technical information provided in this blog were last updated on 20 Sep, 2024

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