Gladiator Stocks - Mahindra & Mahindra - ICICI Direct

Technical View

- Auto sector has displayed remarkable outperformance over past few months corrective phase in broader markets. Within OEMs M&M remains our top pick as it relatively outperforms within Auto OEM space after a multiyear breakout that spells structural turnaround

- Over past couple of weeks, the share price underwent a breather after strong rally in March-May 2022, wherein elevated buying demand emerged at multiyear breakout levels of Rs. 970. Follow through buying demand at breakout levels corroborates positive stance and provides fresh entry opportunity

Fundamental View

- Mahindra & Mahindra (M&M) is a conglomerate with a presence in auto, IT, financial services, logistics, hospitality and real estate among others. At standalone level it is India's largest tractor manufacturer (~40% FY22 market share) & second largest CV, fourth largest PV maker (24.7%, 7.4% FY22 market share)

- M&M is also proactive on the electrification front and already has an Electric 3-W and E-rickshaw as well as PV (e-Verito) running on Indian roads. With pipeline of interesting launches in the electric PV as well as LCV front, the company is steadily transforming amidst change in technology landscape in the auto space

For details, click on the link below: Link to the report

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1072.05 as compared to the previous close of Rs. 1028.05. The total number of shares traded during the day was 230027 in over 11088 trades.

The stock hit an intraday high of Rs. 1074.45 and intraday low of 1031.75. The net turnover during the day was Rs. 243328413.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 GladiatorStocks ICICIDirect