Jyoti CNC Automation’s stock jumped over 2% following a positive “add” rating from Equirus, which set a target price of ₹1,450. This suggests a potential upside of 5% from the current market price of ₹1,379.
Equirus highlighted Jyoti CNC’s strategic position to capitalize on both domestic and global sectoral opportunities. The company is actively expanding its capabilities and increasing capacities to tap into significant market growth. Equirus also noted strong capital expenditure plans, focusing on backward integration to fuel its growth. The brokerage projects a robust sales/EBITDA/PAT CAGR of 40%, 47%, and 66% respectively from FY24 to FY27, with a return on equity (RoE) of 27% by FY26.
Jyoti CNC Automation shares opened at ₹1,378.65, reaching a high of ₹1,416.45 and a low of ₹1,365.25. The stock is currently trading well below its 52-week high of ₹1,504.30 and significantly above its 52-week low of ₹368.00.
As of 10:21 a.m., Jyoti CNC Automation shares were trading 2.12% higher at Rs 1,397.60 on the NSE.
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