Buy Mahindra & Mahindra, target price Rs 665: Motilal Oswal

Motilal Oswal has given a buy rating to M&M with a target price of Rs 665. The share price moved down by 0.62 per cent from its previous close of Rs 625.05. The stock’s last traded price is Rs 621.20.

Mahindra & Mahindra Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 77718.18 Crore) operating in Auto sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 16321.34 Crore, down 19.13 % from last quarter Sales of Rs 20182.28 Crore and down 37.32 % from last year same quarter Sales of Rs 26041.02 Crore. The Company reported net profit after tax of Rs -196.68 Crore in latest quarter.


Investment Rationale
Negated lower top - lower bottom on daily scale with a hold above 50 DEMA

Promoter/FII Holdings
Promoters held 51.18 per cent stake in the company as of March 31, 2020, while FIIs held 23.94 per cent, DIIs 15.56 and public and others 9.32 per cent.