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Last Updated : May 18, 2020 05:03 PM IST | Source:

Buy Mahindra and Mahindra Financial Services; target of Rs 228: HDFC Securities

HDFC Securities is bullish on Mahindra and Mahindra Financial Services has recommended buy rating on the stock with a target price of Rs 228 in its research report dated May 17, 2020.

Broker Research @moneycontrolcom
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HDFC Securities' research report on Mahindra and Mahindra Financial Services

MMFS’ business and asset quality performance, and consequently earnings were hit by COVID-19, despite 4Q being a seasonally strong qtr. Operating performance is likely to be subdued in the near term. Elevated provisions are likely to persist, weighing down on earnings. A deep rural presence, capable collection infrastructure (as seen in the past) and relatively easy access to funds are positives.


Inexpensive valuations underpin our BUY (TP of Rs 228, 1.4xFY22E ABV + Rs 18 for stake in MIBL).

For all recommendations report, click here

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First Published on May 18, 2020 05:03 pm
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