BUZZ - Sandsera Engineering stock price hits a record high in India; Goldman Sachs raises target price boosted by the global chip industry

September 22 - ** Precision parts manufacturer Sansera Engineering (stock code: SASE.NS) shares surged as much as 4.95%, reaching a record high of 4,509.80 rupees

** The stock is poised to rise for a fifth straight session

** Goldman Sachs Research noted that global semiconductor equipment manufacturers Applied Materials (AMAT.O) and LAM Research (LRCX.O) are investing in India to build a local supplier ecosystem, which is expected to drive SASE’s high-margin “advanced design systems” components supply business

** The brokerage maintains a “Buy” rating on the stock and has raised its target price from 4,500 rupees to 4,990 rupees (a record market high)

** Seven out of twelve analysts rate the stock “Buy” or higher, with a median target price of 4,185 rupees—data compiled by LSEG

** Year to date, the share price has surged 169.05%

(To assist non-English speakers, Reuters provides its reports with automated translations into several other languages. Since automated translations may be inaccurate or lack necessary context, Reuters does not guarantee the accuracy of the automated translation text and provides it solely to aid readers. Reuters accepts no liability for any harm or losses resulting from use of the automated translation function.)