India's Craftsman Automation gains on ICICI's strong rev growth view

Craftsman Automation

27/12/2022 07:38

** Shares of industrial machinery and equipment maker
Craftsman Automation Ltd  CRAF.NS  up as much as 2.7% at 3,272
rupees
    ** Co's annualised revenue in the industrial solutions space
would grow 20% in fiscal 2023, ICICI Securities analyst Basudeb
Banerjee writes in a note
    ** Adds revenue outlook strong in segments like industrial
and export commercial vehicle engines on order wins
    ** Co to grow 60%-65% in continuous integration auto power
train segment as demand for electric vehicles intensify, says
analyst
    ** CRAF higher than 50-day moving average of 3,164.03 rupees
after two trading sessions
    ** Five out of six brokerages rate it "buy" and above;
median PT is 3,333 rupees - Refinitiv
    ** Up to last close, stock up ~40.9% this year
 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))