Sell Mahindra & Mahindra, target Rs 690: Manas Jaiswal

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Manas Jaiswal of manasjaiswal.com has a sell call on Mahindra & Mahindra Ltd. with a target price of Rs 690. The current market price of Mahindra & Mahindra Ltd. is Rs 756. Time period given by the analyst is Intra Day when Mahindra & Mahindra Ltd. price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 751. Mahindra & Mahindra Ltd., incorporated in 1945, is a largecap company with a market cap of Rs 90777.92 crore.

Mahindra & Mahindra Ltd. key Products/Revenue Segments include Automobile-Light, Medium & Heavy Commercial, Jeep, Passenger Car which contributed Rs 45964.65 Crore to Sales Value (97.59 % of Total Sales), Other Operating Revenue which contributed Rs 582.06 Crore to Sales Value (1.23 % of Total Sales), Sale of services which contributed Rs 462.48 Crore to Sales Value (0.98 % of Total Sales), Scrap which contributed Rs 86.85 Crore to Sales Value (0.18 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2018, the company has reported a Standalone sales of Rs 13519.91 Crore, up 1.59 % from last quarter Sales of Rs 13307.88 Crore and up 16.80 % from last year same quarter Sales of Rs 11575.71 Crore Company has reported net profit after tax of Rs 1220.96 Crore in latest quarter. The company’s top management includes Dr.Pawan Goenka, Dr.Vishakha N Desai, Mr.Anand G Mahindra, Mr.Anupam Puri, Mr.Keshub Mahindra, Mr.M M Murugappan, Mr.Nadir B Godrej, Mr.R K Kulkarni, Mr.T N Manoharan, Mr.Vikram Singh Mehta. Company has Deloitte Haskins & Sells as its auditoRs As on 30-06-2018, the company has a total of 1,243,192,544 shares outstanding.

Source: Economic Times