CIE is a MNC with 65.7% promoter holding. Its robust business model presents promising growth prospects. The stock is trading at an attractive valuation of 18.5x 2024E discounted P/E and 11x 2024E EV/EBITDA. We expect the stock to gradually re-rate to valuations like that of listed MNCs in the auto space: TP is 710 (35% upside): Nuvama
![[IMG]](https://pbs.twimg.com/media/F1sjiSZaIAAVe1Y?format=jpg&name=small)
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