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Neutral MRF; target of Rs 69,000: Motilal Oswal

Motilal Oswal recommended Neutral rating on MRF with a target price of Rs 69,000 in its research report dated May 10, 2022.

May 12, 2022 / 02:32 PM IST
 
 
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Motilal Oswal's research report on MRF


MRF’s 4QFY22 performance was driven by strong revenue growth, while RM cost inflation continued to impact margin. The industry is taking gradual price increases to dilute the impact of severe cost inflation. We raise our FY23/FY24 EPS by ~6%/3% to factor in price hikes in the Replacement market.
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Outlook


We maintain our Neutral rating with a TP of INR69,000 per share.


For all recommendations report, click here

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first published: May 12, 2022 02:32 pm
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