Asit C Mehta Investment Interrmediates Broker Research reports

J Kumar Infraprojects Ltd. (JKIL) is a well-established EPC contractor with a strong foothold in the infrastructure sector. The company is well-positioned to benefit from its robust order book, excellent execution capabilities, and solid financial foundation.

ITD Cementation Ltd has a diversified portfolio across all verticals with expertise for disciplined project execution. It has established itself as a leading name in the construction of offshore maritime structures, ports, mass rapid transit systems.

We initiate coverage on AIA Engineering ltd with a “BUY” recommendation and a target price
of Rs 5,106/- per share. AIAE currently trades at 31X its EV/EBITDA Multiple. The company
holds a strong position in a duopoly market.

The Anup Engineering Limited” (erstwhile subsidiary company of Arvind Limited) was originally incorporated in the year 1962. In the year 2017 Arvind Limited decided to demerge.

CIEINDIA is a large, diversified auto-components group with a presence across many processes, product lines, geographies, and customers. The company’s unique combination of specialization in high value-added products.

We initiate coverage of Karur Vysya Bank (KVB) with a “BUY” recommendation and a target price of Rs 265, valuing the bank at 1.7x of its 1 year forward P/Adj. BV.

STRCEM reported a mixed set of numbers, EBITDA and blended realisation in line with our estimate, while revenue and volume are marginally ahead of our estimate. Revenue up by 10.1% YoY (+40.2% QoQ) to Rs9.13bn, mainly led by 13.8% YoY (+43.7% QoQ) increase in volume of 1.41mt (1.387mt cement + 0.024mt clinker) sales.

We initiate coverage on Star Cement Ltd (STRCEM) with a “BUY” recommendation and target price of Rs262 based on 10x FY26E EV/EBITDA.

AAL is currently the largest independent manufacturer of rear drive axle assemblies for CVs (primarily M&HCVs) in India. AAL has continuous focus on working capital
improvement and inventory optimization and continuous focus on revenue
improvement, new product development, operational excellence & cost optimization as part of Industry 4.0 Strategy.

Increased bearing usage in Railways and Metros are a critical component in
railway operations because it maintains the friction between moving parts in
railway systems, ensuring that various components do not collide or separate.