Asahi India Glass: Hold

Though the financial performance of Asahi India Glass in the last few quarters has not been very impressive, recent initiatives will help it get back into the growth trajectory.

Investors may continue to hold the stock while fresh exposures may be considered after clearer signs emerge of growth in its earnings.

The efforts to move up the value chain and the thrust on the architectural glass market are positive features.

Asahi India is aggressively expanding capacity that will help it exploit the growing demand for automotive glass.

Auto factor

Asahi India is the largest manufacturer of automotive safety glass in the country.

It has a dominant position in the original equipment market and caters to almost all automobile producers in the country.

Its clientele includes auto majors such as Maruti, Hyundai, Ford, Mahindra & Mahindra, Tata Engineering and Toyota.

Aided by strong growth in automobile production, the company has managed to record a steady growth in earnings in recent years.

Read the entire news on the source link below.

600450 Asahi India Glass: Hold glassonweb.com
Date: 22 May 2006
Source: Thehindubusinessline.com

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