Ajax Engineering is a well-known company in the concrete equipment sector. On 17th February the stock started very roughly. The IPO of these shares was priced at Rs 629 but it opened with a lower price of Rs 576. Should you invest in this stock to get a good return? More on this in the article below.
Ajax Engineering Share Price in Today’s Market
Ajax Engineering share opened with Rs 576. It has already gone up to Rs 607.70 and lowest of Rs 566.00. Total market cap of the company is Rs 6,776 Crore. How much it can go up? Let’s check the financials and target prices for Ajaz Engineering.
Company Financial
The company is a well known name in in the self-loading concrete mixer. It has 4 manufacturing facilities with in country. On the financial year ended in September 30, 2024 PAT was around Rs 225 Crore, from net revenue or Rs 1741 Crore.
Recent News of Ajax Engineering
Ajaz Engineering launched its Initial Public Offerings (IPO), which has a good overall response. Investors subscribed 6.45 times and Qualified Institutional Buyers subscribed 14.41 times. Though the opening was below average, it can perform well in long term says analysts.
Ajax Engineering Share Price Target
As per money control, the upper circuit limit is set at Rs 633.60 and lower circuit limit is set at Rs 518.40. It is expected to reach maximum Rs 780 at the end of 2025.
Recommendation of Buy, Hold or Sell?
As per current market conditions combined with Ajax Engineering’s weak listing performance, analysts recommend holding onto shares for long-term investors. Prashanth Tapse from Mehta Equities emphasized that despite a rocky start, Ajax’s dominant position in concrete solutions aligns well with India’s booming infrastructure development. Investors looking to buy shares may consider waiting for better entry points as the stock stabilizes.
