Buy Mahindra and Mahindra; target of Rs 1550: Sharekhan

Sharekhan's research report on Mahindra and Mahindra

The company launched XUV 700 in Australia, in line with its global expansion strategy and aiming to expand in the domestic lightweight tractor market via Swaraj Target 630. The company enjoys an order book of 292K units due to robust demand for SUVs. The stock trades at a P/E multiple of 17.3x and EV/EBITDA multiple of 10.7x its FY2025 estimates.

Outlook

We reiterate our Buy rating on M&M with an unchanged PT of Rs. 1,550 on focus on consistent improvement in its operating performance, market share expansion via new launches and aim to attain scale in its operating areas.

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