Shares of Sansera Engineering rose 6% during the trading hours on Monday, July 20 after Goldman Sachs initiated a buy coverage on the stock.
Sansera Engineering share price advanced 5.86% intraday to Rs 3,408.9 apiece. The scrip was trading 5.8% higher by 10:50 am, while the benchmark Nifty 50 index was down 0.43%.
The brokerage, in its recent note has set a target price of Rs 4,130 on the stock, marking nearly 21% upside from its current price. Goldman Sachs highlighted the company's transition from traditional machining to high-growth segments such as semiconductors and aerospace.The brokerage expects aerospace, defence and semiconductor businesses to drive stronger margins and realizations.
It added that production-linked incentive (PLI) benefits are not yet factored into its estimates, offering potential upside, with exports, aerospace, semiconductors and defence expected to support EBITDA margins alongside incremental optionality from increased domestic two-wheeler parts outsourcing.
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