Jamna Auto hits a new high

Jamna Auto hit a new record high today at Rs.97.45 with volumes almost doubling up.

The stock has shot to the limelight as many brokerage and fund houses have either initiated coverage on the stock or hiked the target price.

The company is India's largest and world's second largest manufacturer of leaf springs used in commercial vehicles (CV's).  KR Choksey has put out a target price of Rs.112.

HDFC Securities which covers the stock expects the company to report a 22% (YoY) and 36% (QoQ) rise in net profit at Rs.40 crore for Q4FY18.