Volume upgrades for FY21 after the performance in August, easing concerns on capital allocation and valuations are expected to have a positive impact on the financials and stock trajectory of Mahindra & Mahindra (M&M). The stock is up 124 per cent since the start of FY21 and could add to its gains given volume and earnings upgrades going ahead.
The key trigger for the upgrades is the tractor segment which posted a 69 per cent growth in domestic tractor volumes. Analysts expect the demand momentum to pick up going ahead reversing the volume performance so far. M&M’s financial ...
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