Buy AIA Engineering; target of Rs 3240: ICICI Direct

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ICICI Direct's research report on AIA Engineering

AIA Engineering (AIA) is India’s largest manufacturer and supplier of high chrome wear, corrosion and abrasion resistance castings used in cement, mining and thermal power plants (or mills). • Products include tube mill internals (grinding media, shell liners, diaphragm), HRCS castings & crusher parts for cement, mining and power • The company is the second largest hi-chrome producer in the world.

Outlook

We remain long term positive and retain our BUY rating on the stock. We value AIA at Rs 3240 i.e. 35x P/E on FY24E EPS.

 For all recommendations report, click here

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AIA Engineering - 15 -11-2022 - icici