Buy AIA Engineering, target of Rs 178: Hem Securities

Hem Securities has reiterated its buy rating on AIA Engineering with a target of Rs 178 in its March 14, 2009 research report.

“AIA Engineering Limited has a scalable business model, good growth visibility, high operating margin and limited competition. The company has registered a continuous robust growth rate over past few years. As discussed with the management, the Company has a strong order book position of around INR 415 crores which provides a strong visibility to their revenues. We expect the company to outperform in the future and we reiterate �BUY� on the stock with a target of Rs 178,” says Hem Securities’ report.

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