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Mahindra & Mahindra gains for fifth straight session, hits new high
Posted on 9th July 2018
Shares of Mahindra & Mahindra (M&M) were quoting higher for the fifth straight trading days, hitting new high of Rs 940, up 2% on the BSE, after the government last week increased the minimum support price (MSP) of kharif crops for 2018-19.

In past six trading sessions, M&M has rallied 6% as compared to 1.5% rise in the S&P BSE Sensex. In past four months, it surged 29% against 7.5% rise in the benchmark index.

According to M&M, the Government’s plan to double farmer income by 2022 is expected to open many new opportunities for Mahindra’s Farm Equipment Sector.

With the Government’s strong focus on improving farm productivity and the adoption of better agricultural practices, the sector is poised for sustained growth. With a normal monsoon forecast by major global weather forecasting agencies, the Farm Equipment Sector is ideally positioned for the near and mid-term, the company said in FY18 annual report.

The Indian auto industry is expected to continue with its growth momentum of F18 when all segments, Passenger Vehicles (PV), Commercial Vehicles (CV), Three Wheelers (3W) and Two Wheelers (2W) reported their highest-ever sales. Excluding 2-Wheelers, the industry grew at 11.9% over the previous year, registering double-digit growth for the first time in seven years, it added.

Analysts at Prabhudas Lilladher maintain ‘BUY’ rating on M&M with a price target of Rs 1,041 as the brokerage remain confident of the company’s domestic tractor business.

“The company’s strategy for its global business ramp up further boosts our confidence as the company is focusing on products & segments which are similar to its domestic tractor portfolio. However, we continue to have concerns over M&M’s domestic UV business, although the 3 upcoming launches in this space can boost volumes ahead,” the brokerage firm said in analyst meets update.

Related Companies: Mahindra India   

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NTPC gets green clearance for Rs 77.32 bn expansion project in Odisha
Posted on 24th September 2018
State-run power producer NTPC has been given the green clearance for the Rs 77.32 billion expansion project of the Talcher Thermal Power Station in Odisha, a senior government official said Monday.

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Posted on 24th September 2018
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Paytm is testing face recognition tool for payments
Posted on 24th September 2018
BENGALURU: If Apple taught Indian consumers to unlock its new phones with a twitch of their eyes, Paytm is working on introducing facial recognition to enable digital payments.

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