Darashaw bullish on M&M

Dr. Regan F Homavazir, CMT, Associate Vice President, Technical Research, Darashaw & Co is bullish on Mahindra and Mahindra (M&M).

Homavazir told CNBC-TV18, "Mahindra and Mahindra has been a very, very important player and it is one stock that has surprised everyone. We have been bullish on M&M right from Rs 800 or maybe Rs 750 and we have been continuing with that bullishness. The target is as high as Rs 1,200."
He further added, "M&M is our top pick and it is one stock that has market fancy because if you compare it to stocks like Tata Motors and if you compare it to stocks like Maruti it is in a different league altogether."
The company touched its 52-week high Rs 874.75 and 52-week low Rs 585.10 on 28 Oct, 2011 and 28 Feb, 2011, respectively. Currently, it is trading -3.77% below its 52-week high and 43.87% above its 52-week low. Market capitalisation stands at Rs 51,684.40 crore.