Buy Mahindra & Mahindra, target price Rs 1000: ICICI Direct

ICICI Direct has buy call on Mahindra & Mahindra with a target price of Rs 1000. The current market price of Mahindra & Mahindra is Rs 819.45. Time period given by analyst is 3 months when Mahindra & Mahindra Ltd. price can reach defined target.

Mahindra & Mahindra Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 101892.06 Crore) operating in Auto sector.

Mahindra & Mahindra Ltd. key Products/Revenue Segments include Automobile-Light, Medium & Heavy Commercial, Jeep, Passenger Car, Sale of services, Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 23785.49 Crore, up 9.43 % from last quarter Total Income of Rs 21735.96 Crore and up 8.77 % from last year same quarter Total Income of Rs 21867.78 Crore. Company reported net profit after tax of Rs 2066.60 Crore in latest quarter.

Investment Rationale
The stock has taken support near Rs 800-850 levels in multiple instances. Also, looking at the significant delivery volume activity in January 2022 and then in early February 2022, these levels seem very crucial. In such a scenario, the positive bias may continue in the stock till these levels are held

Promoter/FII Holdings
Promoters held 19.47 per cent stake in the company as of 31-Dec-2021, while FIIs owned 44.36 per cent, DIIs 22.11 per cent.