Curated By: Business Desk
Last Updated: December 11, 2023, 12:40 IST
Pitti Engineering Limited was began in 1983.
Axis Securities has really useful shopping for Pitti Engineering Ltd inventory for 3 major causes. Let’s discover out.
Pitti Engineering Limited, a number one producer {of electrical} lamination, motor cores, sub-assemblies, die-forged rotors, and press instruments within the nation, has proven spectacular returns to buyers. An investor who put Rs 8,000 into this firm twenty years in the past is now a millionaire. Over the final 9 months, the inventory has virtually quadrupled buyers’ capital. Axis Securities, a home brokerage agency, has just lately began protecting Pitti Engineering, highlighting the inventory’s potential for strong future earnings.
In the latest buying and selling session on Friday, December 8, Pitti Engineering’s shares closed at Rs 712.60, registering a modest achieve of 0.21 %. The inventory’s 52-week excessive is Rs 748, a degree reached within the earlier buying and selling week. Over the final 6 months, buyers have seen an 88 % return; and within the final 9 months, the return stands at 191 %. Looking on the one-12 months efficiency, the inventory has witnessed a major bounce of 114 %.
Axis Securities has really useful shopping for Pitti Engineering inventory for 3 major causes. Firstly, the corporate is increasing its capability. Secondly, there’s a notable give attention to worth-added merchandise. Thirdly, there’s a substantial worldwide enlargement. According to the brokerage, by the fiscal 12 months 2026, the corporate is projected to attain income development of 13 % CAGR, reaching Rs 1,588 crore, and EBITDA is anticipated to develop at a 13 % CAGR, reaching Rs 258 crore.
Axis Securities has issued a purchase score for Pitti Engineering shares, establishing a goal worth of Rs 915. This represents an approximate 26 % potential enhance from the present inventory worth. The brokerage advises contemplating any declines within the inventory ensuing from revenue reserving as beneficial shopping for alternatives.
Shares of Pitti Engineering, which have been valued at 57 paise on June 3, 2003, have surged to Rs 712.
About Pitti Engineering
Started in 1983, Pitti Engineering is considered the biggest producer in India, specialising in electrical sheet laminations, motor cores, sub-assemblies, die-forged rotors, and machined parts. The firm, boasting 4 many years of experience, specialises in producing worth-added motor/generator sub-assemblies.
