Firstcall's research report on MM ForgingsMM Forgings started as Madras Motors Ltd in year 1946 as dealers of “Royal Enfield Motor Cycles, UK” in India. The Company forayed into the forging business with a forge shop in Singampunari (Plant 1), Tamilnadu in the year 1974 with a capacity of 780 MT per Annum. The company was formerly known as The Madras Motors Ltd and changed its name to MM Forgings Limited in 1993. MM Forgings Limited manufactures and sells steel forgings in India. It offers steel forgings in raw, semi- machined, and fully machined stages in various grades of carbon, alloy, micro-alloy, and stainless steels. The company also produces green energy through its solar and wind farms. MM Forgings Limited also exports its products.We recommend ‘BUY’ in this particular scrip with a target price of Rs. 590.00 for Medium to Long term investment.
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