External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Thematic (Sector/Industry)

<p>Our Pick: From the auto component stocks under our coverage, we expect Minda Industries and Minda Corp to benefit from this scheme.</p><p>The Union Cabinet has approved Rs 26,058 Cr of Production Linked Incentives (PLI) to encourage domestic production of automobiles and drones and their components to enhance India’s manufacturing capabilities.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Our Pick: From the auto component stocks under our coverage, we expect Minda Industries and Minda Corp to benefit from this scheme.The Union Cabinet has approved Rs 26,058 Cr of Production Linked Incentives (PLI) to encourage domestic production of automobiles and drones and their components to enhance India’s manufacturing capabilities.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Equity Bottom-Up

<p>We downgrade our rating to HOLD on expensive valuations of the stock with a target price of Rs 730 (earlier target Rs 704), implying an upside of 5% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We downgrade our rating to HOLD on expensive valuations of the stock with a target price of Rs 730 (earlier target Rs 704), implying an upside of 5% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Minda Industries: Weak Performance; Downgrade To HOLD

<p>We retain a BUY and value the company at 32x FY23E to arrive at a target price of Rs 724, implying an upside of 10%.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We retain a BUY and value the company at 32x FY23E to arrive at a target price of Rs 724, implying an upside of 10%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<p>Considering the company's capabilities to capitalize on the recovery in the automobile sector and outperformance over industry growth, we retain a BUY rating on the stock with a target price of Rs 704 (earlier target Rs 567), implying an upside of 11% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Considering the company's capabilities to capitalize on the recovery in the automobile sector and outperformance over industry growth, we retain a BUY rating on the stock with a target price of Rs 704 (earlier target Rs 567), implying an upside of 11% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

UNO Minda Limited designs, develops, and manufactures sales diverse auto components. The Company offers alternate fuel and air filtration systems, canisters, brake and fuel hoses, noise suppressor caps, alloy wheels, seat belts, air brakes, air ducts and washer bottle, and body sealing products. UNO Minda serves customers worldwide.

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UNO Minda (UNOMINDA IN)

PLI Scheme - EV Advantage Continues

We expect Minda Industries and Minda Corp to benefit from this scheme. The Union Cabinet has approved Rs 26,058 Cr of Production Linked Incentives...

Axis Direct

Minda Industries: Weak Performance; Downgrade To HOLD

We downgrade our rating to HOLD on expensive valuations of the stock with a target price of Rs 730 (earlier target Rs 704), implying an upside of...

Axis Direct

Event Update:Minda Industries

We retain a BUY and value the company at 32x FY23E to arrive at a target price of Rs 724, implying an upside of 10%.

Axis Direct

Result Update:Minda Industries

Considering the company's capabilities to capitalize on the recovery in the automobile sector and outperformance over industry growth, we retain a...

Axis Direct

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