Buy Simmonds Marshall Ltd: Abhishek Jain, StocksIdea.com

Simmonds Marshall LtdStock analyst Abhishek Jain of Stocksidea.com has maintained ‘Buy’ rating on Simmonds Marshall Ltd stock to achieve a short-term target of Rs 75.

According to Mr. Jain, interested investors can buy the stock around Rs 35 with a stop loss at Rs 21.

Shares of the company, on Friday (July 3), closed at Rs 38, up Rs 1.80, on the Bombay Stock Exchange (BSE). The total volume of shares traded was 50 at the BSE. The share price has seen a 52-week high of Rs 69.65 and a low of Rs 20.55 on BSE. Current EPS and P/E of the stock stood at 2.75 & 13.82 respectively.

Mr. Jain said that the stock is looking strong technically. It will blast in short term. So, interested investors can buy stock and see the profit.

Simmonds Marshall Limited was incorporated in 1960 as a Private Limited Company in technical and financial partnership with Firth Cleveland Fastenings Ltd., U.K. holding 51% of the equity of the company. It makes a variety of Specialised Nylon Insert Self Locking Nuts and other Special Fasteners.

The company has been increasing its cold forming capacity and can manufacture more than 500 million nuts annually in a wide variety from M4 to M48 diameter and equivalent imperial sizes. These nuts are fabricated either to American, British, Japanese, ISO or Indian Standards in different thread forms and protective finishes.

The company also has a battery of multi-spindle automatic bar turning centres able to produce related automotive components as well.

The company is fully equipped to supply a broad variety of Bolts from associated companies ranging from M5 to M70.

The company caters to the Automotive and Industrial segments and supplies to almost all the major Automobile Manufacturers in India as OE Suppliers. Furthermore, General Motors, Fiat, Honda, Caterpillar, Suzuki, Leyland, Dana, New Holland are some of the world's finest companies that source their requirements from us.