Buy Sundram Fasteners; target of Rs 600: Joindre Capital

Joindre Capital's research report on Sundram Fasteners

Sundram Fasteners Ltd, (SFL) a TVS Group company is one of the leading auto component manufacturers in India. SFL’s product range includes high -tensile fasteners, powder metal components, cold extruded parts, hot forged components, radiator caps, automotive pumps, gear shifters, gears and couplings, and iron powder.SFLhas 10 manufacturing plants in Tamil Nadu and one each in Andhra Pradesh Pondicherry and Uttarakhand. Apart from this SFL has subsidiaries operating in China, UK and Germany

Outlook

Hence we believe that the SFL stock should be purchased at the current price for a price target of around Rs 600 over the next 12 to 18 months.

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