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The counter of AIA Engineering has gained almost 11 per cent week on week on the BSE. The stock closed at Rs 585.60 on the BSE. Strong fundamentals is driving interest at this counter, say analysts.

AIA manufactures high chrome mill internals, which are used as both consumables and for new projects in the cement, mining and thermal power generation industry.

According to analysts, valuations look attractive given the strong track record, growth potential in the mining industry, expanding global footprint, major market share, reputed clientele etc.

As of March 31, 2006, the company has a healthy order book of Rs 295 crore.

Currently, the company is in expansion mode — from 65,000 t.p.a. to 1,65,000 t.p.a. by FY08 — which would lead to significant increase in revenue and profitability going forward. The company is to announce its results on July 31.

Deeptha Rajkumar

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