India's Pricol rises after Axis Securities initiates with 'Buy'

Pricol

07/09/2026 10:35

** Shares of Pricol PRCO.NS up 1.8% at 779.1 rupees
** Axis Securities initiates automotive tech co with "Buy" and PT of 935 rupees
** Brokerage cites strong positioning in premium automotive components, robust order inflows and business diversification
** Notes co strengthened portfolio through acquisition of Sundaram Auto Components' injection moulding business, expanding into precision plastic components
** Believes demerger of driver-information and connected vehicle solutions business will create focused platforms with sharper strategic focus and enhanced value visibility
** Key growth drivers in the medium term are premiumisation, technology adoption, expanding exports, margin improvement and healthy cash flows - brokerage
** Expects revenue to grow at 19% CAGR over FY26-29E, and for PAT to grow at 24% CAGR over the same period
** YTD, stock up 18.1%

 (Reporting by Mridula Kumar in Bengaluru)
 ((Mridula.Kumar@thomsonreuters.com;))