India's Dynamatic Technologies jumps after ICICI Securities starts coverage with 'buy'

Dynamatic Technologies

01/04/2024 08:31

** Shares of Dynamatic Technologies  DYNM.NS  rise as much
as 6.4% to record high of 7,934.5 rupees
    ** ICICI Securities initiates coverage on the airplane parts
maker with "buy" rating; PT of 10,250 rupees/shr is at 37.5%
premium to DYNM's last close
    ** Brokerage says co benefits from being the sole supplier
of flap track beams for Airbus  AIR.PA ; expects co to have
strong orderbook of 110 billion rupees ($1.32 billion) to 120
bln rupees in 10 years
    ** DYNM logged 7 straight quarterly gains, rising over 4
times during the period
    ** Stock has been above its 200-day SMA since August 2022,
indicating bullish sentiment
    ** Trading vol is 1.5x the 30-day daily avg
    ** Trading vol for March qtr was highest in 10 qtrs
    ** Stock rose 2x in 2023, gaining for third consecutive year
 





($1 = 83.3580 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))