Pitti Laminations: A fallen angel worth picking up!?

Hi everyone,

I was looking at Pitti Laminations, a micro cap with a m-cap of 78 Cr. Its India's largest metal laminations company. The company is in steel laminations business primarily but has also diversified from steel laminations to tooling, forging etc. Company is a net exporter to many countries a clientele is quite good: See - https://www.pitti.in/clients.html

Last few quarters have been quite disappointing and it is expected to stay the same for some time to come. ICICI Direct's report (See- https://www.moneycontrol.com/news/r...nations-targetrs-50-icici-direct_4258441.html) talks about risks and opportunities ahead for the company, and still gives a rating of Rs. 50 (approx 90% from current price).

Worth picking up a bit of stake in it as downside seems limited, any thoughts?

 

One key trigger is GE orders. Stock could then go higher than 50.

Downside at sub 30 anyways is limited.

 

Daljeet Singh Kohli, head of research at India Nivesh Securites is bullish on Torrent Pharma, Pitti Laminations, Bank of Baroda and Federal Bank.

Read more at: https://www.moneycontrol.com/news/s...harma-bob_2340321.html?utm_source=ref_article

 

Up 11% yesterday.

 

Congratulations to those who hung on to Pitti Laminations! It seems that now the patience might bear fruit!