CIE Automotive India falls on weak Q3 European sales

CIE Automotive India

24/02/2025 06:40

** Shares of CIE Automotive India  CIEA.NS  fall 2.3% to 411
rupees
    ** The autoparts maker posted a 9% rise in Q3 consolidated
net profit; rev from ops fell 6% Y/Y
    ** Rev from European Union continued to be weak; India rev
slipped sequentially, in line with industry, said analysts at
ICICI Securities 
    ** The brokerage cut CIEA's current year 2025 EPS estimates
by ~10%, flagging continued slowdown in Europe business and
delay in ramp-up of fresh projects
    ** Five analysts covering the stock on avg have a "buy"
rating; median PT is 500 rupees - LSEG data
    ** Stock down 10% so far this month, eyes seventh straight
monthly drop
     

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))