Anand Rathi maintains buy on Mayur Uniquoters, target price Rs 311

Anand Rathi has maintained its ‘Buy’ rating on Mayur Uniquoters with target price of Rs 311. The continuing weakness in domestic autos and footwear impacted Mayur’s third quarter performance. However, the strong revival in exports and an uptick in auto sales since December 2019, are good signs. Besides, the recently-commissioned PU plant will contribute from FY21. Shares of Mayur closed at Rs 241, up 6.3%.