April 19, 2018 / 11:52 IST
From left to right: Rajan Wadhera, President, Automotive Sector, Mahindra & Mahindra Ltd along with Mr Veejay Nakra, Chief of Sales & Marketing, Automotive Division, Mahindra & Mahindra Ltd at the launch.
SMC Global Securities Mahindra & Mahindra Ltd (M&M), through its subsidiaries, engage in the manufacture, distribution, and sale of passenger cars, tractors, multi-utility vehicles, light commercial vehicles, and three wheelers.
The company’s volume growth is on an uptrend led by strong demand in the tractor and a cyclical recovery in light commercial vehicles. A pick up in the rural economy is likely and should benefit M&M. It is expected that the company would see strong growth going forward.
The price target of Rs 1005 is based on one-year average P/E of 25.56x and FY19 (E) earnings of Rs 39.31.
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