ICICI Direct has given Buy recommendation for The Anup Engineering with a target price of Rs. 1265 in its research report issued on Jul 28, 2021

ICICI Direct’s research report on The Anup Engineering

Anup Engineering is one of the leading process equipment manufacturers with special focus on heat exchangers. The company has a facility in Odhav, Gujarat and is currently in the process of making a greenfield expansion in Kheda The company aims to achieve a topline target of Rs 1000 crore by 2025


We revise our rating from HOLD to BUY on the stock. We value Anup at Rs 1265 i.e. 18x P/E on FY23E EPS.


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