Short term swing trade (C): Automobile & Ancillaries stock | Indian stock trading picks on 1 Sep 2026

NOTE

Closing Price: ₹650 (as of Aug 31, 2026)
StopLoss*: Apply on the daily close. After the first target, reset the StopLoss to your buying price.
Duration^: Approximate holding period based on the active trading days (excluding market holidays). Actual holding may vary with the market conditions.
Upside Potential#: Based on median of the suggested buy range.

M M Forgings manufactures and sells steel forgings for the automotive and industrial sectors in India and overseas. Its products include connecting rods, flanges, hubs, axle components, steering parts, crankshafts, yokes and high-pressure valve components. These products are used in passenger cars, commercial vehicles, tractors, off-highway vehicles, oilfields, agriculture and engineering applications. The company supplies major vehicle and tractor manufacturers and also exports its products. Founded in 1945, M M Forgings is headquartered in Chennai, India.

Q1 FY27 Earnings Call Summary & Financial Highlights

Earnings Call Summary

Profit surged 373%: Revenue grew 16% YoY to ₹427 crore, while net profit jumped to ₹90 crore from ₹19 crore. Even excluding the one-time land sale gain, PBT grew 30%.
Capacity fully utilized: All major forging and machining facilities are running at full capacity, supported by strong demand from India and the US.
Higher-value products growing: Machined products now account for 67% of sales, helping improve the overall product mix and margins.
US demand recovering: North American demand has picked up strongly and management expects the recovery to continue through FY27.
FY27 outlook positive: Management expects revenue of ₹1,800–1,900 crore for FY27, around 18% higher than FY26.

Financial Highlights

Metric	Q1 FY27 (Jun '26)	Q4 FY26 (Mar '26)	Q1 FY26 (Jun '25)	QoQ Change	YoY Change
Revenue from Operations	420	430	362	▼ 2.3%	▲ 16.0%
EBITDA (Operating Profit)	75	81	63	▼ 7.4%	▲ 19.0%
EBITDA Margin (OPM %)	18%	19%	18%	▼ 100 bps	—
Net Profit (PAT)	90	45	19	▲ 100.0%	▲ 373.7%
EPS (₹)	18.73	9.27	3.97	▲ 102.0%	▲ 371.8%

Price Performance & Volume Analysis

Price Performance

Volume Analysis

Technical Analysis

Key Observations

The stock price is currently trading just below the neckline of a rounding bottom pattern.
A breakout above the neckline could occur soon, potentially driving the stock toward higher levels.

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Technical Image - Daily Timeframe

Technical Indicators

Oscillators

Indicator	Value	Zone
RSI-14	60.86	Neutral
CCI-14	40.95	Neutral
MFI	59.26	Neutral
ROC	4.58	Positive
Stochastic %K	60.97	Neutral
William %R	-30.30	Neutral

Exponential Moving Averages (EMAs)

EMA	Value	Stock Position
5 EMA	641	Above
10 EMA	637	Above
20 EMA	622	Above
50 EMA	575	Above
100 EMA	526	Above
200 EMA	476	Above

Conclusion

MM Forgings Stock Price Forecast

Based on our short term trade recommendations, the MM Forgings stock price target will be INR 670 - INR 680 in the next 12-14 trading sessions.

MONEY MANAGEMENT AND TRADING RULES

Buy within the recommended price range. You may allow up to 1% flexibility beyond the range if needed.
No need to rush. The recommendation remains valid for up to 7 days, not just at market open.
Use a trailing stop-loss to protect and lock in profits.
Diversify your trading capital across our other recommended stocks to reduce risk.
Invest responsibly. Trade only with funds you can afford to lose and hedge positions where appropriate.

Analyst Summary

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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