JPMorgan has maintained a neutral stance on Amber Enterprises with a target price of ₹8,150 per share. At the current market price of ₹7,798, the target indicates a limited upside of about 5 percent.
The brokerage highlighted that the company’s subsidiary, ILJIN Electronics, is set to raise ₹1,200 crore through a mix of equity and CCPS from multiple investors. The funds will be directed towards both organic and inorganic growth, with likely allocation towards capacity expansion in bare printed circuit boards (PCBs) and high-density interconnect (HDI) PCBs.
JPMorgan noted that while the fundraise is a positive for growth plans, the key monitorable will remain the valuation at which the transaction is executed. Given the stock’s recent performance and valuation, the brokerage prefers to stay cautious with a neutral rating despite the expansion initiatives.
Amber Enterprises shares were last seen trading at ₹7,798, leaving only modest upside potential to JPMorgan’s target of ₹8,150.
Disclaimer: The views and investment recommendations expressed above are those of JPMorgan. They do not represent the views of this publication. This article is for informational purposes only and is not investment advice.
