Buy CIE Automotive India, target price Rs 565: Axis Securities

Axis Securities has buy call on CIE Automotive India with a target price of Rs 565. The current market price of CIE Automotive India Ltd. is Rs 466.45.

CIE Automotive India Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 17539.82 Crore) operating in Auto Ancillaries sector.

CIE Automotive India Ltd. key Products/Revenue Segments include Automotive Accessories, Other Operating Revenue and Sale of services for the year ending 31-Dec-2022.



Financials
For the quarter ended 31-12-2023, the company has reported a Consolidated Total Income of Rs 2266.90 Crore, down -1.41 % from last quarter Total Income of Rs 2299.43 Crore and down -.19 % from last year same quarter Total Income of Rs 2271.23 Crore. Company has reported net profit after tax of Rs 169.22 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 65.7 per cent stake in the company as of 31-Dec-2023, while FIIs owned 5.63 per cent, DIIs 15.98 per cent.