M&M has target of Rs 1000: TS Harihar

Mahindra and Mahindra (M&M) has target of Rs 1000, says TS Harihar, ICICI Securities.

Harihar told CNBC-TV18, "My pick would be Mahindra and Mahindra. This has shown a phenomenal movement from Rs 720 to Rs 905 as of yesterday. What is more interesting is that M&M today is probably in the same position that Tata Motors was about 10 years back. It was actually in the right place at the right time."

He further added, "M&M is in the SUV business at the right time, it has over taken Tata Motors, the largest seller of passenger cars and add to that I think they are off-tick on a month on month basis seems to be growing at a phenomenal pace. So that to me it seems to be the pick of the pack and we have a target of Rs 1000 on M&M within one quarter."