Buy Mahindra CIE; target of Rs 267 : Motilal Oswal
Motilal Oswal is bullish on Mahindra CIE recommended buy rating on the stock with a target price of Rs 267 in its research report date February 23, 2022.
Broker Research
February 24, 2022 / 01:43 PM IST
Motilal Oswal's research report on Mahindra CIE
MACA’s weak performance in 4QCY21 was reflection of high RM/energy cost and operating deleverage in both geographies. It is negotiating with customers to pass on hyper inflation in energy prices. There is good progress on order wins in EVs/hybrids in both geos.
Outlook
We cut our CY22E EPS estimates by 3.5% to account for margin pressures across both geographies and maintain CY23E EPS estimates. Maintain Buy with TP of INR267 (13X Dec-23 EPS).
More Info
At 13:37 hrs Mahindra CIE Automotive was quoting at Rs 183.95, down Rs 11.80, or 6.03 percent.
It has touched an intraday high of Rs 196.55 and an intraday low of Rs 180.10.
It was trading with volumes of 23,757 shares, compared to its thirty day average of 23,678 shares, an increase of 0.33 percent.
In the previous trading session, the share closed down 1.86 percent or Rs 3.70 at Rs 195.75.
The share touched its 52-week high Rs 311.65 and 52-week low Rs 148.30 on 16 November, 2021 and 22 April, 2021, respectively.
Currently, it is trading 40.98 percent below its 52-week high and 24.04 percent above its 52-week low.
Market capitalisation stands at Rs 6,973.14 crore.
For all recommendations report, click here
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