Mahindra CIE Automotive share price: Buy Mahindra CIE Automotive, target price Rs 270: Yes Securities
Mahindra CIE Automotive Ltd., incorporated in 1999, is a mid-cap company (with a market capitalization of Rs 9494.74 Crore) operating in the automotive accessories business.
For the quarter ended 03/31-2021, the company reported a consolidated total income of Rs 2,208.76 crore, up 12.40% from the last quarter total income of Rs 1,965.08 crore and up by 32.45% over the total income for the same quarter of last year of Rs 1667.59 crore. The company reported net profit after tax of Rs 10.09 Crore in the last quarter.
Justification of the investment
Forming a series of ascending highs and lows and a sustained move above important averages, the stock continues to chart bullish patterns.
Promoter / FII Holdings
The promoters held 71.6% of the company’s capital as of March 31, 2021, while the FIIs held 15.1%, the DII 3.3% and the public and others 10%.
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