Scripscan:Fiem Industries Ltd
BSE code:532768
cmp:103
Story:FIEM is primarily a manufacturer of auto components such as lamps (head, tail, and signalling lamps among others) and mirrors.FIEM's clients include TVS Motor, Kinetic, Hyundai, Honda Motorcycle and Scooter India,General Motors India etc. Fiem is also eyeing the market in Russia.It has already made a beginning in Russia and hope to scale up the activity further soon.Though exports constitute a fraction of sales as of now, FIEM's arrangement with Ichikoh of Japan for mirror assemblies and the JV with Korea Airconditioners are likely to have meaningful impact going forward.Fiem is seeing big opportunities in four wheeler segment of the Industry and this is one of the main thrust areas for future growth of the Company.It is also increasing its capacities by setting up new manufacturing Unit (Unit-VII)in Rai Industrial Area, Distt Sonepat, Haryana.So here is a company which has done well in recessionary times backed by a solid pedigree team who are in in the auto ancillary line for a long time and they are expanding capacities with valuations being okay.I feel the stock price will go up in the days to come,so wont advise a sell at this level. One will definitely get a better price in due course.It is a decent auto ancillary stock.
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