Nvidia shares pop as analysts dismiss AI bubble concerns
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.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
