Sell Mahindra & Mahindra, target price Rs 1145: Nuvama Wealth brokerage

Nuvama Wealth brokerage has sell call on Mahindra & Mahindra with a target price of Rs 1145. The current market price of Mahindra & Mahindra is Rs 1228.15. Nuvama Wealth brokerage recommended to keep stop loss at Rs 1275.

Mahindra & Mahindra, incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 152807.01 Crore) operating in Auto sector.

Mahindra & Mahindra key Products/Revenue Segments include Automobile-Light, Medium & Heavy Commercial, Jeep, Passenger Car, Sale of services, Scrap, Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 30920.11 Crore, up 2.80 % from last quarter Total Income of Rs 30076.98 Crore and up 30.00 % from last year same quarter Total Income of Rs 23785.49 Crore. Company has reported net profit after tax of Rs 2602.96 Crore in latest quarter.

The company’s top management includes Mr.Keshub Mahindra, Mr.Haigreve Khaitan, Ms.Shikha Sharma, Mr.T N Manoharan, Dr.Vishakha N Desai, Mr.Muthiah Murugappan, Ms.Nisaba Godrej, Mr.Vikram Singh Mehta, Mr.C P Gurnani, Mr.Rajesh Jejurikar, Dr.Anish Shah, Mr.Anand G Mahindra, Mr.Vijay Kumar Sharma. Company has B S R & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 124 Crore shares outstanding.

Investment Rationale
Given a follow through bearish breakdown confirming a lower bottom formation.

Promoter/FII Holdings
Promoters held 19.39 per cent stake in the company as of 31-Dec-2022, while FIIs owned 39.16 per cent, DIIs 27.58 per cent.