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Buy Mahindra and Mahindra; target of Rs 1267: Sharekhan

Sharekhan is bullish on Mahindra and Mahindra has recommended buy rating on the stock with a target price of Rs 1267 in its research report dated June 28, 2022.

June 29, 2022 / 05:23 PM IST

Sharekhan's research report on Mahindra and Mahindra


M&M has launched all new model, the Scorpio-N at an aggressive price and added new technology and safety features, making it a compelling buy for customers. We firmly believe that M&M is on track with its growth roadmap. The company expects its farm equipments business to grow 10x by FY2027E, while it would strengthen its SUV segment by adding 13 new models in the same period, including EVs. The stock trades a P/E multiple of 17.2x and EV/EBITDA multiple of 10.8x its FY24E estimates.



Outlook


We retain a Buy rating on M&M with an unchanged PT of Rs. 1,267, factoring in a positive outlook for its core businesses and improving performance of key subsidiary companies.

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More Info


At 16:01 hrs Mahindra and Mahindra was quoting at Rs 1,111.00, down Rs 1.15, or 0.10 percent.

It has touched an intraday high of Rs 1,115.60 and an intraday low of Rs 1,091.00.

It was trading with volumes of 124,554 shares, compared to its thirty day average of shares, a decrease of percent.

In the previous trading session, the share closed up 2.78 percent or Rs 30.10 at Rs 1,112.15.

The share touched its 52-week high Rs 1,121.00 and 52-week low Rs 671.00 on 28 June, 2022 and 08 March, 2022, respectively.

Currently, it is trading 0.89 percent below its 52-week high and 65.57 percent above its 52-week low.

Market capitalisation stands at Rs 138,118.69 crore.

For all recommendations report, click here


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first published: Jun 29, 2022 05:23 pm
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