Mahindra CIE Automotive Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 8164.34 Crore) operating in Auto Ancillaries sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2208.76 Crore, up 12.40 % from last quarter Total Income of Rs 1965.08 Crore and up 32.45 % from last year same quarter Total Income of Rs 1667.59 Crore. Company reported net profit after tax of Rs 10.09 Crore in latest quarter.
Investment Rationale
The brokerage expects the stock to resume its up move after resolving out of double bottom formation and head towards Rs 240 as it is the 80% retracement of the CY18-20 decline.
Promoter/FII Holdings
Promoters held 71.6 per cent stake in the company as of Dec 30, 2020, while FIIs held 14.6 per cent, DIIs 3.7 per cent and public and others 10.1 per cent.
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