Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo


Budget 2021

Associate Partners:

  • SMCSamsungVolvo
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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
  • bselive
  • nselive
Todays L/H

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

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jan 6, 2021 12:35 pm

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