Three Auto Ancillary Stocks in the Limelight

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Three Auto Ancillary Stocks in the Limelight
Credit: © Reuters.

By Aditya Raghunath -- Auto companies reported solid numbers for the third quarter of FY21 and the steady show is expected to continue in the fourth quarter as well. As new product launches come up in 2021 and older products go into expansion mode, here are three companies that might benefit:

  1. Jamna Auto Industries Ltd (NS: JMNA ): Dolat Capital has been bullish on Jamna Auto for quite some time now. The brokerage firm has assigned a ‘buy’ on the stock that has 68% market share in the domestic OEM (original equipment manufacturer) segment. It counts the likes of Bharat Benz and Ashok Leyland Ltd. (NS: ASOK ) as its customers. Dolat Capital has given Jamna Auto a target of Rs 99. The stock is currently trading at Rs 67.2.
  2. Lumax AutoTechnologies Ltd (NS: LUAT ): FIIs (foreign institutional investors) have been steadily increasing their holdings in Lumax Auto Tech, from 17.95% at the end of June 2020 to 18.32% at the end of September 2020 and 18.58% at the end of December 2020. The stock has risen 81% from June 30, 2020 to March 30 where it closed at Rs 156. The stock has gained almost 10% in March.
  3. Minda Industries Ltd (NS: MNDA ): Minda Industries closed up 1.87% on March 30 after it announced CAPEX of Rs 250 crore for its four-wheeler business. It said that the demand outlook has improved and its four-wheeler lighting and alloy wheels businesses have been running at near capacity. The stock price has run up 63% in 2021 from Rs 339.35 on December 31, 2020 to Rs 552.3 on March 30.

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  • Dinesh Kumar @Dinesh Kumar
    Jamna is bullish here
    Like 0

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