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Buy Atul Auto; target of Rs 210: ICICI Direct

ICICI Direct is bullish on Atul Auto recommended buy rating on the stock with a target price of Rs 210 in its research report dated April 05, 2022.

April 05, 2022 / 03:31 PM IST
 
 
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ICICI Direct's research report on Atul Auto

Atul Auto (AAL) is a prominent 3-W manufacturer based out of Gujarat with broad-based presence across segments and fuel types. Fourth largest 3-W player with FY21 domestic market share at 7.1% (10.3% in cargo segment and 5.1% in passenger segment) • History of healthy capital efficiency as well as positive cash flow generation.


Outlook

We value AAL at revised target price of Rs 210 i.e. 20x P/E on FY24E core auto business and 1.3x P/B to investment in subsidiaries.

More Info

At 15:26 hrs Atul Auto was quoting at Rs 175.10, up Rs 2.15, or 1.24 percent.

It has touched an intraday high of Rs 179.70 and an intraday low of Rs 174.05.

It was trading with volumes of 7,697 shares, compared to its thirty day average of 14,670 shares, a decrease of -47.53 percent.

In the previous trading session, the share closed up 2.67 percent or Rs 4.50 at Rs 172.95.

The share touched its 52-week high Rs 270.00 and 52-week low Rs 156.30 on 04 November, 2021 and 29 March, 2022, respectively.

Currently, it is trading 35.15 percent below its 52-week high and 12.03 percent above its 52-week low.

Market capitalisation stands at Rs 384.23 crore.

For all recommendations report, click here

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Broker Research
first published: Apr 5, 2022 03:31 pm

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