India's Uno Minda jumps after rating upgrade on "palatable" valuations

Marr SpA

27/03/2023 07:42

** Shares of Uno Minda  UNOI.NS  rise as much as 4.07% to
456.95 rupees, most intraday gain since Feb. 9
    ** Kotak Institutional Equities upgrades stock to "buy" from
"add", citing attractive valuations
    ** While near-term outlook for auto industry remains bleak,
co's valuations have been more palatable after a 15% correction
in share prices in the past one months, says Kotak
    ** Adds rising focus on premiumisation, addition of newer
products, order wins across product segments, including electric
vehicles to result in market share gains for auto components
maker
    ** 12 analysts rate stock 'buy' or higher, one 'hold' and
one 'sell;' median TP is 641 rupees - Refinitiv data
    ** Trading volume is ~991,000 shares as of 12:06 p.m. IST,
1.5 times the 30-day avg - Refinitiv data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))