Mahindra and Mahindra may rally to Rs 780: SP Tulsian

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Mahindra and Mahindra may rally to Rs 780: SP Tulsian

Mahindra and Mahindra (M&M) may rally to Rs 780, says SP Tulsian, sptulsian.com.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Mah and Mah See messages about Mah and Mah

Mahindra and Mahindra (M&M) may rally to Rs 780, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "The shift should be taken from Maruti Suzuki and Tata Motors because if you see the kind of run up in both these stocks in the last six weeks I think they have risen by maybe about 40-45% and if you take a relative call maybe on the two-wheeler Bajaj Auto and Hero Motocorp, in fact I will go more with Bajaj Auto at the current level because though it has risen but it has not risen in the same proportion, has gone up by 10-12% and the kind of fear which we have been seeing in case of Mahindra and Mahindra (M&M) because of the excise duty hike on the diesel car and all that, that is in fact keeping the stock price of M&M quite depressed."

He further added, "I am in fact quite optimistic on M&M, suddenly the kind of swift upmove which we have seen in case of Maruti suddenly in a week the stock has raised by 15-20% that kind of movement we can see in M&M. I won't be surprise to see the price of M&M moving to about Rs 780 in next one month or so."

"Reliance Infra results looks good but I don't think that we are seeing the share price moving in sync with the results in fact that is the case with Reliance Capital and Reliance Communication so in fact overall trend has been something different but in case of ADAG stocks the kind of run up which we have seen in last 15 days probably it seems that it is now catching up with the market because the kind of upmove which we have seen in all the stocks, so practically all the stocks are moving because of that but on the result front I don't think that there seems to be any disappointment. Yes, one has to look into the details and all that."