M&M top gainer on NSE, shares rise 5%; should you buy, sell or hold?
Mahindra and Mahindra share price NSE: On Friday, the Mumbai-based company reported a standalone net profit of Rs 1,549 crore for the quarter ended March 2023. The quarterly net profit marked an increase of 22.1 per cent compared with the corresponding period a year ago.
Mahindra and Mahindra share price NSE: Shares of Mahindra & Mahindra (M&M) on Monday surged as much as 5 per cent, emerging as the top gainer in the Nifty basket after the automobile major posted a good set of numbers for the March 2023 quarter (Q4FY23). M&M shares finished up 3.37 per cent or Rs 43.2 at Rs 1,325.05 apiece on NSE ahead of the earnings announcement.
On Friday, the Mumbai-based company reported a standalone net profit of Rs 1,549 crore for the quarter ended March 2023. The quarterly net profit marked an increase of 22.1 per cent compared with the corresponding period a year ago.
M&M reported a profit after tax (PAT) of Rs 2,237 crore in the January-March quarter of 2021-22 fiscal.
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M&M's revenue increased to Rs 32,366 crore for the fourth quarter of FY23, as compared to Rs 25,934 crore in the year-ago period. The automaker also announced that its has revised upward the capital expenditure (capex) outlay for the three years cycle of FY22-FY24 to Rs 15,900 crore from Rs 15,075 crore.
M&M share price target
Post quarter ended March 31 announcement, brokerages have revised its target price.
M&M share price history
Mahindra & Mahindra has given a return of over 5 per cent in the past six months. On a year-to-date (YTD) basis, the M&M shares have climbed nearly 5 percent, a time in which headline index Nifty 50 has climbed nearly 12 per cent.
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