Buy Minda Corporation; target of Rs 160: ICICI Direct
ICICI Direct is bullish on Minda Corporation recommended buy rating on the stock with a target price of Rs 160 in its research report dated September 15, 2021.
September 15, 2021 / 10:49 AM IST
ICICI Direct's research report on Minda Corporation
Minda Corporation (MCL) primarily serves domestic auto OEMs across two main verticals – mechatronics & aftermarket (MCH – safety & security, diecasting, starter motors, etc.) and information & connected systems (ICS – mainly wiring harnesses).
We value the company at a revised target price of Rs 160 i.e. 20x P/E on FY23E EPS (earlier target price Rs 120).
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