Monarch Networth Capital has initiated its coverage on Pricol with a 'Buy' rating and a target price of Rs 465. Pricol, with a towering market share for cluster instruments in multiple sub-segments of the auto industry, is at a transformational stage after an extended period of uncertainty created by several endogenous and exogenous factors, it said.
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The company said it has entered into a co-operation agreement for technology and supply of parts and systems with the overseas firm, which will support it exclusively on the projects identified for such collaboration.