The commercial vehicle (CV) segment reported double-digit growth in January, with sales at Eicher and Ashok Leyland rising more than 32% each. Eicher Motors lost the most among stocks during the day, down 2.82%, while Ashok Leyland gained the most by 2.78%.

The total passenger vehicles sale was up 65 per cent at 33,040 units compared to 19,646 units sold in January 2022.

On the BSE, auto, capital goods, power, metal and realty added 1-1.8 percent, while selling was seen in the healthcare, information technology and oil & gas names

Sharekhan is bullish on Mahindra and Mahindra has recommended buy rating on the stock with a target price of Rs 1550 in its research report dated January 18, 2023.

“Ahead of the Budget, the 17,750-17,800 zone has become very crucial. From a short-term perspective, 17850, 17 900 and 17950 puts have seen a lot of additions. That means lower levels around 17900, 17930 for the day should act as a strong support. On the upside, if we see 18,000 strike price call, that is where the highest open interest is placed.”

“The group's four major businesses – auto, farm, Tech Mahindra and Mahindra Finance, are really in a very strong growth phase and will contribute a tremendous amount of growth to the group.We also have three listed entities which are growth gems -- logistics, life spaces and holidays – and a few others that will contribute very solidly to the growth as well.

Mahindra and Mahindra was the biggest gainer among Nifty50 stocks, climbing 3.6 percent to Rs 1,310 and formed healthy bullish candlestick pattern on the daily charts with above average volumes, with making higher high higher low formation for second straight session.

Seasonally, Q4 is a strong quarter for the sector. PV and M&HCV segments to maintain their strong performance while the improving farm sector will aid pickup in tractors and farm implements. Two-wheeler demand to improve due to upcoming marriage and festive season

The company had sold 17,722 units in the same month in 2021, M&M said in a statement.

"I don't see us launching in the U.S. in the next five years," Anish Shah, Mahindra's CEO and managing director, said Tuesday in an interview.

M&M will make investment of approximately Rs 10,000 crore over a period of seven to eight years for setting up the manufacturing unit

ICICI Direct is bullish on Mahindra and Mahindra recommended buy rating on the stock with a target price of Rs 1590 in its research report dated November 13, 2022.

Mahindra farm equipment division witnessed the highest second-quarter volume this fiscal. The automobile segment too posted record volumes last quarter. The company said that exports for both vehicles and tractors remained strong in the period under review.

In a statement, the Mumbai-based auto major on Thursday said Mutares has submitted an irrevocable binding offer to acquire 50 per cent of equity and a controlling stake of 80 per cent in France-based Peugeot Motocycles (PMTC).

Net-profit growth estimates vary widely, dividend payout maybe a criteria too

Analysts had expected a flat year-on-year growth, but volumes beat estimates by a healthy lead