Nomura has maintained a buy rating on Mahindra & Mahindra (M&M) with a target price of ₹3,681 per share, indicating an upside potential of approximately 15% from its current market price (CMP) of ₹3,193.
The brokerage highlighted M&M’s raised tractor guidance, signaling strong demand in the agricultural segment. Additionally, the upcoming Battery Electric Vehicle (BEV) launch is expected to be a major catalyst for future growth.
M&M’s Q3 EBITDA was in line with estimates, reflecting stable operational performance. Moreover, the management expects income tax cuts to further boost consumer demand, which could drive higher sales growth across its vehicle segments.
With Nomura’s target of ₹3,681, M&M remains an attractive bet for growth in both the tractor and electric vehicle segments.
(Disclaimer: This article is for informational purposes only and should not be considered as investment advice. Investors are advised to do their own due diligence before making any investment decisions.)