Buy Mahindra and Mahindra; target of Rs 870: ICICI Direct
ICICI Direct is bullish on Mahindra and Mahindra recommended buy rating on the stock with a target price of Rs 870 in its research report dated January 04, 2021.
January 14, 2021 / 08:51 PM IST
ICICI Direct's research report on Mahindra and Mahindra
We attended the virtual analyst meet hosted by M&M wherein the company provided a business update on notably three domains: (i) Update on potential investor coming on board of SsangYong Motors and potential financial implication for M&M (equity & debt exposure) (ii) amicable calling off of JV with Ford Motors (announced in October 2019) and (iii) supply side constraints (semi-conductor chips) impacting volumes in the near term.
We continue to maintain BUY rating on M&M with an unchanged target price of Rs 870 valuing it using SOTP valuation methodology.
For all recommendations report, click here
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