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Man Industries (India) Ltd (MAN) reported significantly higher sales growth with 119% y-o-y (year-on-year) rise to Rs1,108 crore. Ooperating profit margin expanded 290bps (basis points) y-o-y to 6.3%.
Action Construction Equipment, Jyothy Labs and ITD Cementation India - to give returns going up to 174% in the last one year.
“The equipment manufacturers are definitely there, the cement is also seeing some life, steel is seeing some life because these are all essential ingredients for any kind of construction and that is the sector I have been looking at and I have nibbled at over the last three, four months.”
"When you look at valuation, one has to always think about what the stock has done in the past year or so or couple of years and then take a call because the growth here that most of the automobile companies are showing in terms of top-line growth is fairly muted. It is either single digits or early double-digit kind of numbers. These are not great numbers that essentially help valuations."
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