Domestic brokerage firm Motilal Oswal initiated coverage on Unimech Aerospace with a Buy rating and a target price of Rs 1,530, implying an upside of 27% from current market levels. The stock has already gained 40% on a year-to-date basis.
The company manufactures specialised aero engine tools for LEAP, Pratt & Whitney and Rolls Royce engines, and airframe tools for Airbus and Boeing. UNIMECH currently serves 18 customers in this segment.
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