Scripscan:Wheels India Ltd
Code:590073
cmp:170
Story:Wheels India is among the major wheel rim manufacturers in the country. It has a presence across almost all segments of the automobile industry. The company continues to enjoy a dominant position in the domestic market. Considering the nature of the product, the bulk of the company's revenue flows from the original equipment segment.The company has now developed some new products for buses and is likely to commence supplies to Indian market shortly. This coupled with the decision to undertake contract manufacturing on behalf of global wheel manufacturers would also help the company record an improved performance in the future.Along with a host of auto ancillary companies, Wheels India is also expected to benefit immensely from the steady increase in automobile production in the coming quarters. The continued firm trends in automobile production and the thrustinto the export market would help the company report improved performance this fiscal.TAKING into account the strong fundamentals and improved business prospects, long-term investors can contemplate equity exposure at the current price of Rs 170.
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Wednesday, December 16, 2009
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