Short Term Buy Call For Mahindra & Mahindra, Technical analyst Sanjeev Agarwal of Dynamix Research is bullish on Mahindra & Mahindra Ltd and has recommended ‘buy’ rating on the stock with a short term target of Rs 820. According to analyst, the interested investors can buy the stock with a stop loss of Rs 759.
The stock of the company, on Nov 24, closed at Rs 784.25 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 826.40 and a low of Rs 475.55 on BSE.
Current EPS & P/E ratio stood at 39.73 and 19.71 respectively.
Mahindra & Mahindra (M&M) declared that it has inked a definitive deal in Seoul to get hold of South Korea`s Ssangyong Motor Co.
Mahindra will purchase a 70% equity stake in the company.
Mahindra & Mahindra (M&M) recorded an increase of 34% in its auto sales during the last month, which stood at 34,495 units as compared to 25,670 units in the same period of last year (2009).
The company registered an increase of 7.90% in its net profit, which stood at Rs 7,584.9 million for the three month period ended Sep 2010.
The company’s net sales during the period surged 18.95% to Rs 53,112.6 million.
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