Time to reset economy

Get App

Time to reset economy

Last Updated : Oct 23, 2018 03:56 PM IST | Source: Moneycontrol.com

Hold Mahindra CIE Automotive; target of Rs 281: Geojit

Geojit recommended recommended hold rating on Mahindra CIE Automotive with a target price of Rs 281 in its research report dated October 22, 2018.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

Geojit's research report on Mahindra CIE Automotive

Mahindra CIE (MCIE) is among the top global forging players with a strong presence in both Europe and India. Currently 2/3rd of the revenue comes from Europe (split btw CV’s & PV’s) while rest from India (PVs). MCIE registered a robust revenue growth of 29% for Q3CY18, driven by strong European sales of 32%YoY & India business growing at 26%YoY. Despite weak European car sales, the growth was largely led by new orders in Gears & forging and robust growth in EU truck sales.


Considering the faster EV adoption in Europe and ongoing trade war we maintain our P/E valuation at 18x with a target price of Rs281 and downgrade our rating as Hold from buy at CMP.

For all recommendations report, click here

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

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Oct 23, 2018 03:56 pm
Follow us on