Buy Mahindra & Mahindra, target price Rs 400: Suruchi Kapoor

Suruchi Kapoor of Edelweiss Financial Services has a buy call on Mahindra & Mahindra Ltd. with a target price of Rs 400.0 . The current price of Mahindra & Mahindra Ltd. is Rs 368.0 Time period given by the analyst is Intra Day when Mahindra & Mahindra Ltd. price can reach defined target. . Suruchi Kapoor recommended to keep a stoploss at Rs 350 .

Mahindra & Mahindra Ltd., incorporated in 1945, has a market cap of Rs 45749.49 crore) operating in Auto sector.

Investment Rationale


Inverse head and shoulder pattern breakout with volume, the highest after September 2019.

Financials

For the quarter ended December 31, 2019, the company reported consolidated sales of Rs 25019.86 crore, up 4.53 per cent from last quarter sales of Rs 23935.93 crore and down -4.03 per cent from last year same quarter sales of Rs 26069.38 crore. The company reported net profit after tax of Rs -170.43 crore in the latest quarter.

Promoter/FII Holdings

Promoters held 19.87 per cent stake in the company as of December 31, 2019, while FIIs held 33.96 per cent, DIIs 27.98 per cent and public and others 18.19 per cent.