External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Mahindra Cie Automotive / Equity Bottom-Up

<ul><li>Our BUY recommendation is based on long-term growth outperformance in Indian and Mexican operations, led by increased capacities, headroom for operational efficiencies, and a healthy balance sheet.</li><li>However, due to the near-term headwinds in the European/US business and Slower-than-expected ramp-up in EV Operations, we lower our earnings estimate marginally for CY24/25E.</li><li>We like CIEAUTO based on its strong execution capabilities. we reiterate our BUY rating on the company and value the company at a 1-year Forward PE multiple of 25x (earlier 24x) on Indian operations (aided by overall industry growth, strong order book and demand-backed capacity expansions) and 10x (unchanged) on moderate European operational earnings for CY25 EPS.</li></ul><p><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></p>

Our BUY recommendation is based on long-term growth outperformance in Indian and Mexican operations, led by increased capacities, headroom for operational efficiencies, and a healthy balance sheet.However, due to the near-term headwinds in the European/US business and Slower-than-expected ramp-up in EV Operations, we lower our earnings estimate marginally for CY24/25E.We like CIEAUTO based on its strong execution capabilities. we reiterate our BUY rating on the company and value the company at a 1-year Forward PE multiple of 25x (earlier 24x) on Indian operations (aided by overall industry growth, strong order book and demand-backed capacity expansions) and 10x (unchanged) on moderate European operational earnings for CY25 EPS.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.

Mahindra Cie Automotive

CIE Automotive - Q1CY24 EBITDA Inline