The Hindu Business Line : Ahmednagar Forgings strong on biz

The Rs 10-face value Ahmednagar Forgings stock, which dipped close to 2 per cent on Tuesday to end at Rs 281, is being observed for the business that the company is recording, courtesy clients like Tata Motors.

Ahmednagar Forgings, which makes steel forgings and auto components, is expected to lay more emphasis on large forging components. This, in turn, will help in building an improved product pipeline, market circles feel. At the current price, it is trading at about 14x fiscal 2007 estimated earnings.

On Tuesday, a little over 25,000 shares made up the volumes. The 52-week high and low for the stock stand at Rs 299.35 and Rs 134.30 respectively.

NILANJAN DEY

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