Buy Mayur Uniquoters: target of Rs 737: Sharekhan

Trading Calls - Equity F&O

Sharekhan is bullish on Mayur Uniquoters has recommended buy rating on the stock with a target price of Rs 737 in its research report dated December 10, 2021.

Broker Research

December 13, 2021 / 01:38 PM IST

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Sharekhan’s research report on Mayur Uniquoters

MUL likely to benefit from easing chips shortage situation, as its key clients’ production is expected to improve going forward. Management continues to remain positive on the outlook, led by robust order book and commissioning of the new PU unit. The stock is trading below its historical average multiples at P/E multiple of 18.3x and EV/EBITDA multiple of 11.7x its FY2023 estimates.

Outlook

We maintain Buy on Mayur Uniquoters Limited (MUL) with a revised PT of Rs. 737, owing to recovery in the automotive segment, improving footwear business outlook, and margin expansion.

For all recommendations report, click here

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