BUY MM Forgings share - Price target by Zee Business expert | Jain Saab Ke Gems

BUY MM Forgings Share Price Target: Market expert and Zee Business panelist Sandeep Jain on Wednesday recommended BUY for MM Forgings share to the viewers for bumper profit. In a special edition 'Jain Saab Ke Gems', aired on Zee Business with Managing Editor Anil

Singhvi, he said that MM Forgings could be a good buy given then strong company fundamentals.  

The company started in 1946 as a retail business and later set up its first steel plant in 1974. The company being run by 3rd generation, Vidyashankar Krishnan, an IITian from Madras adds confidence in the management of the company, Jain said.

The company has made components for passenger, commercial, and agriculture components said, he noted. Acquisition in October 2021 has led to better quarterly results of the company, Jain added. 

MM Forgings Share Price 

MM Forgings Share Price - Rs 918 

MM Forgings Share Price Target - Rs 1030/1050 (4 to 5 months)

Talking about the Fundamentals of the company, the Tradeswift Director said, the profit CAGR has been around 16-17 % for the past 5 years. Sales CAGR has been 18%. Company's return on return on equity (RoE) is 17%.

Talking about the shareholding pattern of the company, he said that promoters hold 56-57% stake while the FIIs (Foreign Institutional Investors) and DIIs (Domestic Institutional Investors) hold around 19%.