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The Clutch Auto stock is seen to be accumulated by investors who apparently wish to stay in sync with a company that ranks among the country's top makers of clutches and assemblies. On Friday, it closed at Rs 119.85 on the BSE, a 3 per cent-plus drop from its previous close of Rs 124 or so. It gained 20 per cent from last Friday's close of Rs 99.85.

Trading volumes mostly remain modest, market men say, while referring to the 42,000-odd shares that were transacted.

The company, analysts point out, specialises in the heavy-duty segment, which offers scope in the new as well as the replacement market.

Clutch Auto is in future expected to leverage its US facility to meet growing demand.

The stock is available at valuations of 9.5x and 6.8x of FY 07 and FY 08 estimated earnings respectively, it is stated.

Nilanjan Dey

More Stories on : Stocks | Ear to the ground | Automobile Components

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Clutch Auto: Value buying seen

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