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Buy Minda Corporation, target Rs 105: Kunal Bothra

Buy Minda Corporation Ltd. at a price target of Rs 105.0 and a stoploss at Rs 94 from entry point.

Last Updated: Nov 18, 2019, 08.46 AM IST|Original: Nov 18, 2019, 08.39 AM IST
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Independent analyst Kunal Bothra has a buy call on Minda Corporation Ltd. with a target price of Rs 105. The current market price of Minda Corporation Ltd. is Rs 96.6. Time period given by the analyst is Intra Day when Minda Corporation Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 94. Minda Corporation Ltd., incorporated in 1985, has a market cap of Rs 2194.97 crore.
Minda Corporation Ltd. key Products/Revenue Segments include Other Auto Components which contributed Rs 931.90 Crore to Sales Value (98.38 % of Total Sales), Other Operating Revenue which contributed Rs 7.50 Crore to Sales Value (0.79 % of Total Sales), Royalty Income which contributed Rs 2.90 Crore to Sales Value (0.30 % of Total Sales), Duty Drawback which contributed Rs 2.40 Crore to Sales Value (0.25 % of Total Sales), Scrap which contributed Rs 2.20 Crore to Sales Value (0.23 % of Total Sales), Job Work which contributed Rs .30 Crore to Sales Value (0.03 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 735.45 Crore, up 3.84 % from last quarter Sales of Rs 708.26 Crore and down -4.89 % from last year same quarter Sales of Rs 773.29 Crore Company has reported net profit after tax of Rs 34.27 Crore in latest quarter. The company’s top management includes Mr.Ashok Kumar Jha, Mr.Ashok Minda, Mr.Avinash P Gandhi, Mr.Avinash Parkash Gandhi, Mr.Laxman Ramnarayan, Mr.Rakesh Chopra, Mr.Sudhir Kashyap, Mrs.Pratima Ram. Company has B S R & Co. LLP as its auditors. As on 30-09-2019, the company has a total of 227,222,285 shares outstanding.

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