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Ahmednagar Forgings, which closed 5 per cent higher at Rs 196.65 on the NSE, is turning into a value and growth play in the auto ancillaries domain, investment circles, who refer to the company's current position and projections, say. Analysts expect the growth trend to continue in view of the demand being thrown up both within the country and from markets abroad. The net profit is estimated to grow at a CAGR of 50 per cent over the next couple of years. Ahmednagar Forgings, a supplier to OEMs such as Tata Motors and Bajaj Auto, will be able to leverage the growth patterns displayed by the two-wheeler and CV sectors, it is felt. On Friday, the stock recorded volumes of roughly 50,000 shares.

Nilanjan Dey

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