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Mon, 24 Aug 2026
08:19:54 am
Mon, 24 Aug 2026
08:19:54 am
Synopsis
Aequs shares hit a fresh lifetime high after surging 140% in four months. Check why IIFL Capital and Nuvama are bullish, target prices, order book, growth outlook, and whether investors should buy.
Shares of Aequs Ltd. surged to a fresh lifetime high after rallying more than 18% in three trading sessions, extending an impressive 140% gain in just four months. The rally follows bullish coverage from IIFL Capital and Nuvama, both of which highlighted the company's strong aerospace manufacturing capabilities, long-term order visibility, and strategic positioning in India's fast-growing aerospace sector.
Small-cap aerospace manufacturer Aequs Ltd. extended its winning streak for the third consecutive trading session, climbing around 7% on Thursday to touch a fresh all-time high of ₹274.39.
The latest rally has taken the stock's gains to over 18% in just three trading sessions, while the share price has surged approximately 140% since its March 2026 lows.
The rally also pushed the company's market capitalisation above ₹18,400 crore.
| Particulars | Details |
|---|---|
| Latest High | ₹274.39 |
| 3-Day Gain | 18%+ |
| Gain Since March 2026 Low | Around 140% |
| IPO Price | ₹124 |
| Listing Price | ₹140 |
| Market Capitalisation | ₹18,400+ Crore |
IIFL Capital initiated coverage on Aequs with a 'Buy' recommendation and a target price of ₹320, indicating further upside from current levels.
According to the brokerage, Aequs has built a differentiated aerospace manufacturing platform with significant competitive advantages.
IIFL believes the company's premium valuation is supported by its long-term growth potential and strong competitive moat.
Earlier this week, Nuvama Institutional Equities also initiated coverage on Aequs with a 'Buy' rating and a significantly higher target price of ₹444 per share.
That target implies nearly 73% upside from the stock's previous closing price.
The brokerage believes Aequs deserves a valuation premium due to its unique positioning within India's aerospace manufacturing ecosystem.
One of the biggest positives highlighted by analysts is Aequs' strong order pipeline.
| Metric | Details |
|---|---|
| Order Book | $889 Million |
| Revenue Coverage | 7.4x |
| Expected Revenue CAGR (FY26–FY29) | 42% |
| Expected EBITDA CAGR (FY26–FY29) | 84% |
According to Nuvama, these are firm purchase orders linked to aircraft production schedules rather than speculative business opportunities.
Aequs has spent more than a decade building integrated aerospace manufacturing capabilities from its facility in Belagavi.
The company supplies precision aerospace components to several global aviation leaders, including:
Its manufacturing capabilities include machined aerostructures, landing gear components and engine parts.
While aerospace remains the company's primary business, Aequs has diversified into multiple manufacturing segments over the years.
| Segment | Products |
|---|---|
| Aerospace | Aircraft Components |
| Consumer Electronics | Precision Manufacturing |
| Toys | Contract Manufacturing |
| Cookware | Consumer Products |
This diversified manufacturing platform is expected to support long-term revenue growth.
Another major catalyst highlighted by Nuvama is the company's proposed ₹1,900 crore investment under a Memorandum of Understanding (MoU) signed with the Tamil Nadu government.
The project aims to establish India's first integrated aero-engine manufacturing ecosystem, further strengthening Aequs' position in the aerospace supply chain.
Brokerages believe Aequs enjoys several structural advantages that are difficult for competitors to replicate.
The recent surge reflects growing investor confidence following positive brokerage initiations and the company's strong long-term growth prospects.
However, after a 140% rally in four months, valuations have become richer.
While analysts remain optimistic due to Aequs' unique aerospace franchise, investors may closely monitor:
Long-term growth prospects remain supported by increasing global aerospace outsourcing and India's push to become a major aerospace manufacturing hub.
The stock rallied after IIFL Capital and Nuvama initiated coverage with 'Buy' ratings, citing strong growth prospects and a robust aerospace business.
IIFL Capital has assigned a target price of ₹320 per share.
Nuvama has initiated coverage with a ₹444 target price.
The stock has surged around 140% in four months and over 18% in the last three trading sessions.
The company has an order book of approximately $889 million, providing strong long-term revenue visibility.
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