Espresso Shot of the Day - Mahindra CIE Automotive Ltd up by 5.83 percent

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Espresso Shot of the Day - Mahindra CIE Automotive Ltd up by 5.83 percent

January 13, 2023
Espresso Shot of the Day - Mahindra CIE Automotive Ltd up by 5.83 percent

MAHINDRA CIE AUTOMOTIVE LTD   377.50  (+5.83%) BSE – INE536H01010 | 13th January 2023

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Mahindra CIE Automotive Limited (MCIE) is a subsidiary of the CIE Automotive Group of Spain and is listed on BSE and NSE. MCIE is the CIE Automotive Group's platform to operate all of its automotive component business, forging technology worldwide and in South East Asia across all production technologies. CIE is a multi-locational and multi-technology business with engineering capabilities and manufacturing facilities in India, Germany, Spain, Lithuania, Italy and Mexico. MCIE has an established presence in each of these locations and supplies automotive components to customers based there and overseas. Our manufacturing locations are generally located close to major automotive manufacturing hubs, in order to facilitate supplies to our customers.


Recent Drivers

  • Mahindra CIE Automotive Limited acquired 26.12% stake in Sunbarn Renewables on December 16, 2022.
  • On December 15, 2022, MCIE reported net profit of Rs 100.38 crores in September 2022, up 2.37% from Rs 98.05 crores in September 2021.
  • On December 15, 2022, MCIE reported net sales of Rs 1,208.39 crores in September 2022, up 37.48% from Rs 878.94 crores in September 2021.
  • On December 12, 2022, the company added in its corporate filing, “MCIE has subscribed to 3,03,250 equity shares of Strongsun Solar at Rs 80 per share. In order to qualify as a captive consumer, the Company must hold at least 26% of the total equity capital of the Power Generating Plant(s).”
         (Sources: BSE, Moneycontrol)


Technical Force*

  • S&P BSE 500 month till date loss by 0.69%
  • 3 months avg. NSE volume: 861,262
  • Quantity traded: 2,98,702 | Deliverable quantity: 52,680 (17.64%)
  • Stock price jumped by more than 120% from a one-year-low level: 164 (March 22, 2022)
  • Daily RSI (14) is in overbought territory today
  • 52-week-high: 386.7 | 52-week-low: 164


Key Pivot (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

589.23

468.22

406.03

285.02

222.83

101.82

39.63

-

Fibonacci Pivot

468.22

398.23

355.00

327.15

285.02

242.88

215.03

171.80

101.82


Today’s Close

377.50

SMA

BSE

10 DAY

348.68

20 DAY

338.39

50 DAY

310.76

200 DAY

259.23


Some Key Ratios (Source: BSE)

Market Cap:  14,319.23 Crores

PE:  34.99

OPM%: 14.29

ROE%:  9.69

Promoters holding%: 74.96

Prev. Close:  356.70


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The scope and usability of this information/data is time-sensitive and market-based, and as such the same may become outdated for the investment decisions of clients, for which Espresso Financial Services Pvt. Ltd bears no responsibility. References to securities do not constitute a recommendation to buy, sell or hold such securities. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document and should consult his own advisors to determine the merits and risks of such an investment. Espresso Financial Services Pvt. Limited is under no obligation to update the information in this document from time-to-time.


Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.