ICICI Direct has given Buy recommendation for Mahindra CIE recommended buy rating on the stock with a target price of Rs 380 in its research rep with a target price of Rs. 380 in its research report issued on Oct 19, 2022
ICICI Direct’s research report on Mahindra CIE
Mahindra CIE (MCI), part of the Spain-based CIE Automotive Group, is a multi-technology, multi-product automotive component supplier. CY21 consolidated revenue mix – Europe 49%, India 51% • Forging is ~59% of consolidated sales (86% in Europe) • In India, it derives 37%, 31%, 16%, 8% of sales from PV, 2-W, tractors, M&HCV, respectively • In Europe it derives 36%, 39%, 9% of sales from PV, MHCV, off highway, respectively.