Buy Mahindra & Mahindra Financial Services, target price Rs 294.8 : ICICI Direct

ICICI Direct has buy call on Mahindra & Mahindra Financial Services with a target price of Rs 294.8. The current market price of Mahindra & Mahindra Financial Services is Rs 296. Time period given by analyst is Intra Day when Mahindra & Mahindra Financial Services price can reach defined target. ICICI Direct recommended to keep stoploss at Rs 287.9.

Mahindra & Mahindra Financial Services, incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 36577.86 Crore) operating in NBFC sector.

Mahindra & Mahindra Financial Services key Products/Revenue Segments include Interest, Fees & Commission Income, Income From Sale Of Share & Securities, Rental Income for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 3536.35 Crore, up 5.47 % from last quarter Total Income of Rs 3352.82 Crore and up 22.05 % from last year same quarter Total Income of Rs 2897.44 Crore. Company has reported net profit after tax of Rs 662.50 Crore in latest quarter.

The company’s top management includes Dr.Anish Shah, Mr.Ramesh Iyer, Mr.C B Bhave, Mr.Dhananjay Mungale, Mr.Milind Sarwate, Ms.Rama Bijapurkar, Dr.Rebecca Nugent, Mr.Siddhartha Mohanty. Company has BSR & Co. LLP as its auditors. As on 31-03-2023, the company has a total of 124 Crore shares outstanding.

Investment Rationale
Bullish Morning star like candlestick at 20 day EMA signaling further upsides in coming sessions.

Promoter/FII Holdings
Promoters held 52.16 per cent stake in the company as of 31-Mar-2023, while FIIs owned 14.85 per cent, DIIs 17.85 per cent.