Buy Mahindra & Mahindra, target price Rs 1120: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Mahindra & Mahindra with a target price of Rs 1120.
The current market price of Mahindra & Mahindra Ltd. is Rs 1072.05.

Time period given by analyst is Intra Day when Mahindra & Mahindra Ltd. price can reach defined target.


Mahindra & Mahindra Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 133276.46 Crore) operating in Auto sector.

Mahindra & Mahindra Ltd. key Products/Revenue Segments include Automobile-Light, Medium & Heavy Commercial, Jeep, Passenger Car, Sale of services, Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 26215.47 Crore, up 10.22 % from last quarter Total Income of Rs 23785.49 Crore and up 20.42 % from last year same quarter Total Income of Rs 21770.81 Crore. Company reported net profit after tax of Rs 2047.75 Crore in latest quarter.

Investment Rationale
Stock is at its life time high levels and follow up buying is seen after breakout on weekly frame.

Promoter/FII Holdings
Promoters held 19.47 per cent stake in the company as of 31-Mar-2022, while FIIs owned 42.59 per cent, DIIs 23.49 per cent.