0756 GMT - Endurance Technologies stands to benefit from its capital expenditure and capacity expansion plans, Axis Securities' Shridhar Kallani says in a research report. In 1H FY 2025, the auto-component manufacturer spent INR1.95 billion as capex mainly for capacity expansion across lines and dies at its Indian operations, and EUR28.3 million to cater to new orders from clients such as the VW Group and Stellantis. The Indian company is focused on building long-term capacity to meet industry demand and increasing utilization of existing facilities, the analyst notes. The brokerage raises the stock's target price to INR2,520.00 from INR2,390.00 with an unchanged hold rating. Shares are 3.8% higher at INR2,517.25. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 11, 2024 02:56 ET (07:56 GMT)
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