Buy Mahindra and Mahindra; target of Rs 1500: ICICI Direct

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26 Aug, 2025 12:21

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Mahindra & Mahindra (M&M) is a conglomerate with presence in auto, IT, financial services, logistics, hospitality and real estate among others. At the standalone level it is India’s largest tractor manufacturer (~40% FY22 market share) & second largest CV, fourth largest PV maker (24.7%, 7.4% FY22 market share). FY22 standalone revenue mix – ~62% automotive, ~34% tractors.

The transaction unlocks the EV business potential and is testimony to M&M’s strong commitment on the EV front. We now value M&M at a revised target price of Rs 1,500 on SOTP basis vs. Rs 1,315 earlier (10x to base automobile business, lower end of valuation pegging to the electric PV business and 35% holding company discount to its listed & unlisted investments/group companies).

At 15:20 hrs Mahindra and Mahindra was quoting at Rs 1,130.25, down Rs 3.10, or 0.27 percent.

It has touched an intraday high of Rs 1,191.90 and an intraday low of Rs 1,127.00.

It was trading with volumes of 379,555 shares, compared to its thirty day average of 138,141 shares, an increase of 174.76 percent.

In the previous trading session, the share closed up 2.57 percent or Rs 28.40 at Rs 1,133.35.

The share touched its 52-week high Rs 1,138.80 and 52-week low Rs 671.00 on 07 July, 2022 and 08 March, 2022, respectively.

Currently, it is trading 0.75 percent below its 52-week high and 68.44 percent above its 52-week low.

Market capitalisation stands at Rs 140,511.84 crore.