ICICI Direct has given Buy recommendation for Atul Auto recommended buy rating on the stock with a target price of Rs 210 in its research r with a target price of Rs. 210 in its research report issued on Apr 05, 2022
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.
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.
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.