Jamna Auto - fortunues depend on Auto sector

 

JAI manufactures high-quality suspension solutions for a wide range of commercial vehicles. Our product range includes Leaf Springs, Parabolic Springs, Lift Axles & Air Suspensions. JAI is a well known brand in automotive Industry catering to all OEM's, Replacement Market and Export Market. For Springs – we have the highest annual capacity of over 3,00,000 MT.

Jamna Auto Industries Limited has 10 plants all over India, manufacturing high quality suspension systems. The plants comprise state-of-the-art machinery and advanced technologies. All the plants are ISO certified, adhere to international safety standards, and are strategically located in close proximity to OEMs. JAI has been awarded TPM category A award from Japan Institute of Plant Maintenance for its Jamshedpur, Yamuna Nagar, and Malanpur plant.

JAI is supplying suspension products to the major OEM's in India for all the vehicles – light, heavy , buses & mining. In India's OEM market, JAI commands a good position.

JAI was instrumental in introduction of Parabolic Springs in India in 1988 for the passenger cars and have now pioneered the same for Commercial Vehicles. This technology not only reduces the weight of the springs but also improves the ride comfort and extends the vehicle life.

Current Market Price - Rs.103

Year High - 135

Year Low - 95

Returns -

1 month - 2%

6 months - 1%

1 year - minus 20%

Technically weak  currently trading near lows.  

Long term investors can buy on declines as auto sector is likely to do well going forward

Date 4 July 2023

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Jamna Auto - Buy on declines

Company Background :

Jamna Auto Industries Limited is an India-based provider of automotive suspension solutions for commercial vehicles. The Company is engaged in the manufacturing and supply of tapered leaf, parabolic springs and suspension systems for vehicles. Its suspension products include rear air suspension-cow horn style, lift axle-steerable/non steerable and bogie suspension-tandem axle. 

Company offers single stage, two stage progressive and auxiliary multileaf springs and parabolic springs. Its multileaf springs are used in commercial and special application vehicles. It operates approximately five manufacturing plants, which are located in Yamuna Nagar, Haryana; Gwalior, Madhya Pradesh; Chennai, Tamil Nadu; Jamshedpur, Jharkhand, and Hosur, Tamil Nadu. It offers its products to global and domestic commercial vehicle original equipment manufacturers. It operates a research and development center to design multi, parabolic leaf springs, lift axles and air suspension for automobile applications.


Stock Performance :

During the last  1 month the scrip has peaked at Rs.148 from a low of Rs.138 giving decent returns.  Three months movement is also bullish from a low of Rs.120 it has gained as much as Rs.29.  During the last 6 months it has gained.  It started upward journey from Rs.116 on Dec 3, 2015 and has touched 150.  This gives an opportunity to buy on declines ..

Our Recommendation :

Both long term and short term indicators are bullish.  Buy on declines around Rs.135 levels and hold for a target of Rs.175 in coming 6-9 months time frame.

Raghav

Smart Investor - 

Equity Research

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