Moneycontrol Be a Pro
Get App
Last Updated : Mar 01, 2017 10:48 AM IST | Source: Moneycontrol.com

Buy Mahindra CIE Automotive; target of Rs 225: ICICI Direct

ICICI Direct is bullish on Mahindra CIE Automotive has recommended buy rating on the stock with a target price of Rs 225 in its research report dated February 28, 2017.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More


ICICI Direct's report on Mahindra CIE Automotive


Mahindra CIE’s Q4CY16 consolidated revenue was at RS 1330 crore (up 8.5% YoY) vs. our estimate of Rs 1,358 crore. Its newly acquired Bill Forge (BFL) is a part of its consolidated numbers. Hence, results are not comparable.


Outlook


CIE’s track record on turnarounds via cost control and high focus on financial metrics give us confidence. Thus, we value MCI at 11x CY18E EV/EBITDA multiple and maintain our target price of Rs 225 with BUY rating.

For all recommendations, 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 Mar 1, 2017 10:48 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant