Fag Bearings has target of Rs 456: Kapadia
June 9th, 2009
Ranjit Kapadia of HDFC Securities is of the view that Fag Bearings has target of Rs 456.
Kapadia told CNBC-TV18, “FAG Bearings serves three major segments. Besides auto, it also serves the railways as well as the industrial segment. The railway demand is already picking up because more and more railway lines are being put in place and railway demand is also good. In the auto segment if you see, in the last two months they have given good numbers in the case of two-wheelers and also some in the car segment. Going forward, if interest rates cool down a bit further and the auto segment demand really picks up then the company is likely to benefit. I have a price target of Rs 456.”