Technical analyst Abhishek Jain of Stocksidea. com has suggested investors to buy Simmonds Marshall Ltd stock for short term.

Mr. Jain expects the stock to hit a target of Rs 95.

The stock may face some resistance around Rs 70 levels, but after that it can even have more upward movement.

The scrip has very strong support at Rs 36.

Shares of the company, on Friday (July 10), closed at Rs 48.35, up Rs 2.30, on the Bombay Stock Exchange (BSE). The total volume of shares traded was 6,928 at the BSE.

Current EPS and P/E of the stock stood at 2.75 & 17.58 respectively. The share price has seen a 52-week high of Rs 69.65 and a low of Rs 20.55 on BSE.

Mr. Jain said that the stock is looking strong technically. It will blast in short term.

Simmonds Marshall Limited was established in 1960 as a Private Limited Company in technical and financial affiliation with Firth Cleveland Fastenings Ltd., U. K. holding
51% of the equity of the company.

It makes a range of Specialised Nylon Insert Self Locking Nuts and other Special Fasteners.

The company has been increasing its cold forming capacity and can manufacture more than 500 million nuts annually in a wide variety from M4 to M48 diameter and equivalent imperial sizes. These nuts are fabricated either to American, British, Japanese, ISO or Indian Standards in different thread forms and protective finishes.

The company also has a battery of multi-spindle automatic bar turning centres able to produce related automotive components as well.

Simmonds Marshall is totally equipped to supply a wide array of Bolts from associated companies ranging from M5 to M70.

The company caters to the Automotive and Industrial segments and supplies to almost all the major Automobile Manufacturers in India as OE Suppliers. Furthermore, General Motors, Fiat, Honda, Caterpillar, Suzuki, Leyland, Dana, New Holland are some of the world's finest companies that source their requirements from us.