Weak growth across geographies dent performance

Company
11 Mar 2024
5 Min read 
  • CIEINDIA reported weak growth in both India and EU markets, impacting its performance.
  •  The EU light-vehicle market is expected to decline by 3% YoY in CY24.
  •  The company has cut its CY24E/CY25E EPS by 4%/3% due to weakness in the markets.
  •  CIEINDIA's focus on profitability and increasing contribution of EVs can drive a re-rating.
  •  The stock trades at 18.5x/15.8x CY24E/CY25E consolidated EPS.
  •  Reiterate BUY with a TP of INR540.
Login / Open Demat Account to read the report

Never Miss Out on Hot Market Updates

Get exclusive market news delivered to your inbox - on priority