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.
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.
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