Lumax Auto Technologies stock initiated with Buy at PhillipCapital

Published 19/11/2025, 09:10
Lumax Auto Technologies stock initiated with Buy at PhillipCapital

Investing.com - PhillipCapital initiated coverage on Lumax Auto Technologies (LMAX:IN) with a Buy rating and set a price target of INR1,860.00.

The firm cited Lumax Auto’s strategic approach of partnering with established global manufacturers who supply to leading OEMs in India as a key strength of the company.

PhillipCapital noted that Lumax Auto, established in 1981 and part of the DK Jain Group, manufactures automotive components for two-wheelers, three-wheelers, and four-wheelers.

The company leverages its international collaborations to develop and produce high-quality products in India, serving Indian OEMs at competitive costs while improving its own margins.

PhillipCapital’s price target of INR1,860 represents a valuation of 35 times the company’s projected September 2027 earnings per share of approximately INR53.

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