Keynotes Financial Opiniery's research report on Mahindra and Mahindra Financial Services
MMFSL is one of leading Non-banking Finance Companies (NBFCs) with customers primarily in the rural and semi urban markets of India. MMFSL benefits from its close relationships with dealers & its longstanding relationships with original Equipment Manufacturers (OEMs) which allow it to provide on -site financing at dealerships. MMFSL is primarily engaged in providing financing for new and Pre-owned Auto and utility vehicles, Tractors, cars and commercial vehicles. It also provide housing finance, personal loans, financing to small and medium enterprises, insurance broking and mutual fund distribution services. In addition, among other services, MMFSL offers wholesale inventory financing to dealers and retail financing to customers in the USA for the purchase of tractor products through Mahindra finance USA LLC its joint venture with a subsidiary of the Rabo bank group.
Outlook
On the basis of Discount Cash Flow Valuation Method, we are recommending ‘Buy’ for the stock. Since the stock offers good opportunity, we initiate a ‘BUY’ signal on the stock with 12-month price target of Rs 250/- share an upside of 23% from current levels.
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