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Sundaram Clayton: Long-term buy

LONG-term investors can contemplate equity exposure in the company, as it is appears well positioned to capitalise on the improvement in the automobile sector. It has already come up with a sharp improvement in earnings in the recent quarters. Taking into account the normal monsoon, steady pick-up in auto production and the recent thrust on exports, the performance is likely to improve further.

Sundaram Clayton is a major player in the air brake actuation system, which accounts for about 76 per cent of the revenues. The rest is accounted by the die casting division. Over the recent years, the company has taken efforts to enhance its presence in the replacement market.

BL Research Bureau

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