Recommendation from Auto Ancillaries sector

This column gives you a scrip chosen by the research team during the fortnight that is fundamentally strong and expected to give good capital appreciation over a time period of 1 year.

BANCO PRODUCTS (INDIA) LIMITED: A STEP AHEAD

HERE IS WHY

✓ Leading player in component space
✓ State-of-the-art technology
✓ Impressive client roster

India has become the fastest growing major economy in the world in recent years. This fast growth, coupled with rising incomes, a boost in infrastructure spending and increased manufacturing incentives, has accelerated the demand for automobile industry products. The fallout of this pace is that there is also an increase in demand for automotive components. By 2026, the automobile component sector is expected to contribute 5-7 per cent of India’s GDP.