Nomura On M&M
Buy, TP Rs 663
JV With Ford Expected To Bring Synergy
Key Positives Are Improved Model Cycle At Lower Cost, Synergy From Joint Sourcing
Core Auto Business Trades At 9x FY21e EPS, Which Is Attractive
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M&M 
Reputation: 13,324 • Oct 3, 2019 1:23 PM
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