Buy Mahindra and Mahindra; target of Rs 1550: Sharekhan

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Sharekhan's research report on Mahindra and Mahindra

M&M priced its first e SUV, XUV 400 competitively – well under Rs 20 lakh bracket, which in our view would help it to garner healthy bookings in line with XUV’s brand equity. Implementation of BS-VI phase-2 is likely to have a minimal impact on cost inflation, helping M&M to maintain its growth trajectory. We believe M&M is on track with its growth roadmap, across its core segments, viz. farm equipment, ICE passenger car segments, passenger EVs, and LCV business.

Outlook

We retain our Buy rating on M&M with an unchanged PT of Rs. 1,550, led by increasing focus on new launches and growing brand value of its core SUV products. The stock trades at a P/E multiple of 18.3x and EV/EBITDA multiple of 11.6x its FY2024E estimates.

For all recommendations report, click here

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

Mahindra & Mahindra - 19 -01-2023 - khan