India's Uno Minda hits record high after GS sets Street-high TP

UNO Minda

20/06/2024 08:48

** Shares of India's Uno Minda  UNOI.NS  up 12.5% to hit
record high of 1188 rupees
    ** Goldman Sachs starts coverage on auto parts maker with
"buy", Street-high TP of 1,350 rupees
    ** Brokerage's TP at 46% premium to the median TP set by 17
analysts, ~23% higher than co's current trading levels
    ** Co well positioned for growth in auto components
industry, opportunities from Korean original equipment
manufacturers (OEMs) a catalyst - GS note 
    ** Stock stages rebound on the day after it closed lower on
Wednesday and snapped a five-session gaining run 
    ** On an average, co rated "buy" - LSEG data 
    ** Trading vols 2.4x 30-day avg 
    ** UNOI has gained over 59% so far this year 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))