Moneycontrol PRO

Buy MM Forgings; target of Rs 1250: ICICI Direct

ICICI Direct is bullish on MM Forgings has recommended buy rating on the stock with a target price of Rs 1250 in its research report dated June 07, 2022.

June 07, 2022 / 02:08 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on MM Forgings

MM Forgings (MMF) is a prominent forging player serving India, Europe and US markets (FY22 geographical mix – domestic ~46%, exports ~54%). FY22 segment mix – CV 85%, PV 10%, Others 5% • FY22 capacity utilisation at ~61%, capacity to surpass 1.2 lakh tonne in FY23.


We retain BUY rating on the stock amid supportive macroeconomics, increasing share of machining in product profile & inexpensive valuations. Introducing FY24E, we now value MMF at 14x PE on FY24E basis for a revised target price of Rs 1250 per share (earlier target price Rs 1125).

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jun 7, 2022 02:08 pm
ISO 27001 - BSI Assurance Mark