We first recommended a buy on Igarashi at Rs. 81-82 on 31Dec2013 with report titled -Igarashi Motors: Undervalued DC Motors. Over last 2 years the stock has gone up from Rs. 81 to Rs. 587 giving a returns of 625% (7.25 times).

Though the future in terms of its business looks even more promising with new markets opening up and new technologies beings implemented, we think that the valuations have caught up well and therefore suggest to Exit Igarashi Motors with 625% Returns.

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