Anand Rathi has given Buy recommendation for Minda Industries with a target price of Rs. 1106 in its research report issued on May 24, 2022

Anand Rathi’s research report on Minda Industries

Consistent growth in its order book and robust demand for 2- and 4- wheelers led to Minda Industries’ strong revenue. The recent commissioning of assembly lines for alloy wheels on further orders augur well for its growth. Supply constraints are expected to normalise in ensuing quarters; accordingly we expect strong demand from 2- and 4- Ws.

Outlook

We upgrade our rating to Buy at a TP of Rs1,106 (40x FY24e) .

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