M&M Finance promises to go far. This is why
Should M&M Finance re-rate to pre-pandemic levels, a meaningful 30 per cent upside is in store in the next one year
June 09, 2021 / 02:48 PM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
Mahindra & Mahindra Financial Services (M&M Finance, CMP: Rs 170, Market Cap: Rs 21,090 crore), the niche NBFC from the M&M stable, finished the last financial year on a lacklustre note impacted by subdued business performance and hefty provisions that dragged down reported profits. While the rural economy had a great going with normal monsoon and good harvest last year, the second wave of the pandemic has impacted parts of rural India disproportionately. Is it, therefore, time to avoid...