Salzer Electronics

HDFC Securities came out with a buy and add recommendation on Salzer Electronics (on falls, if any) at Rs 95 for medium term gains. “Salzer Electronics ZEL manufactures electrical equipment products like CAM-operated rotary switches, load break (isolators), proximity & modular switches, cable ducts, terminal connectors & toroidal transformers. The electrical equipment industry has been growing at a very rapid pace with the switchgear segment reporting a growth of 37 per cent in the first nine months of FY-07. We expect SZEL to continue to record a healthy growth in revenue and PAT over the next two years,” a HDFC Securities note said.