Views on Mahindra & Mahindra 1QFY2016 Results: Angel Broking

Views of Mr. Bharat Gianani (Sr. Research Analyst - Automobile, Angel Broking) on Mahindra & Mahindra 1QFY2016 Results:

"M&M 1QFY2016 results were ahead of estimates primarily on account of strong operating performance. M&M operating margins at 14.3% surprised positively and were significantly ahead of our as well as consensus estimates (estimates stood at about 12%). The operating margins were commendable given the subdued topline. M&M saw benefits of soft commodity prices during the quarter. Apart from the subdued raw material prices, cost control initiatives also boosted the margins. Given the margin beat, we are likely to upgrade our estimates after understanding the margin sustainability from the management. Currently, we have NEUTRAL rating on the stock."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.1387.65 as compared to the previous close of Rs. 1394.25. The total number of shares traded during the day was 241179 in over 9271 trades.

The stock hit an intraday high of Rs. 1441.45 and intraday low of 1382.15. The net turnover during the day was Rs. 340284401.

Source : Equity Bulls

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