Engineers India appears to be a good bet now

Engineers India is a blue chip navratna PSU stock. It offers a dividend yield of 3.5%.

According to a research report by SMIFS, Engineers India will benefit from the Rs. 1 lakh crore Capex planned by PSU OMCs.

Also, the company is currently trading at attractive valuation of 19.95x 1 yr Fwd PE and 38% discount from 52 week high of INR 206.

It s a zero-debt company. It has 14% revenues from export and is safeguarded from current scenario of rising interest rate and to benefit from Rupee depreciation.

There is not much to lose in the stock and everything to be gained. Views solicited.