Azad Engineering Share Price Target: The effect of the ongoing tension in the Middle East is being seen in the Indian domestic market. There was a decline in the stock market on Friday’s trading day. Major benchmark indices BSE Sensex and NSE Nifty 50 had slipped into the red.
Amidst the uncertain environment, brokerage houses are focusing on some specific stocks. At present, he is advising to invest in selected stocks of defense sector by adopting sector based strategy. Global brokerage firm Goldman Sachs has included the shares of Azad Engineering Limited in its favorite list. Let us know about this in detail…
Brokerage firm gave boy rating
Brokerage firm Goldman Sachs has given ‘buy’ rating while maintaining its positive outlook on the stock of Azad Engineering. The firm has set a target price of Rs 2,200 for this, which shows the possibility of an increase of about 40 percent from the current level.
Strong order book builds confidence
The brokerage firm has kept its positive stance on Azad Engineering in view of the strong order book and better growth prospects in the long run. The expectation of improvement in the margin profile of the company is also further strengthening this confidence.
Recently the company has entered into an agreement with Mitsubishi Heavy Industries. In which the company has been selected as the sole supplier. This deal is considered important for the company, because this will further strengthen its hold in the global supply chain.
Company’s performance in stock market
There was a rise in the company shares on BSE on the trading day of Friday, March 27. The company shares closed trading at Rs 1484.40 with a rise of 0.89 percent or Rs 13.05. The intraday high of the day was Rs 1600. Talking about the market cap of the company, it is Rs 9,586.51 crore.
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