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Feb 14, 2017, 06.33 PM | Source: Moneycontrol.com

Buy Mahindra & Mahindra; target of Rs 1506: Motilal Oswal

Motilal Oswal is bullish on Mahindra & Mahindra has recommended buy rating on the stock with a target price of Rs 1506 in its research report dated February 10, 2017.

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Buy Mahindra & Mahindra; target of Rs 1506: Motilal Oswal

Motilal Oswal is bullish on Mahindra & Mahindra has recommended buy rating on the stock with a target price of Rs 1506 in its research report dated February 10, 2017.

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Motilal Oswal's research report on Mahindra & Mahindra

3QFY17 volumes increased 2% YoY (+7% QoQ), driven by growth of 22% YoY (+24% QoQ) in Tractors but 8% YoY decline in automobile sales. Realizations declined 2.5% QoQ (-1% YoY) to INR 536k (est. of INR 530k). Net revenues grew 16% YoY to INR 101.7b (in-line).

Outlook

We downgrade EPS estimates by 5-8% for FY17/18, to factor in for higher tax rate. The stock trades at 17.1x/14.3x FY18/FY19 consol EPS. Maintain Buy rating with a SOTP based TP of INR 1,506 (FY19 SOTP based).

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Disclaimer:
The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here

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Buy Mahindra & Mahindra; target of Rs 1506: Motilal Oswal

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