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    M&M   INE101A01026

MAHINDRA AND MAHINDRA LTD

(M&M)
  Report
Delayed NSE India Stock Exchange  -  07:25 2022-09-29 am EDT
1258.35 INR   +1.28%
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India shares end at three-month high riding on auto rally

08/01/2022 | 06:40am EDT

BENGALURU, Aug 1 (Reuters) - Indian shares kicked off August on a positive note on Monday, with benchmark indexes hitting a three-month high led by a rally in automobile stocks on the back of robust monthly sales data.

At the close of trading, the NSE Nifty 50 index rose 1.06% to 17,340.05 and the S&P BSE Sensex climbed 0.95% to 58,115.50. Both the indexes jumped to their highest since April, after logging their best month since November 2020 in the previous session.

The sentiment is boosted by positive global cues, foreign investors buying in July and fall in oil prices, said Anita Gandhi, a whole-time director at Arihant Capital Markets.

Foreign investors purchased a net $618.05 million worth of Indian equities in July, marking the first monthly inflow of funds since September 2021, according to Refinitiv data.

Meanwhile, India's factory activity expanded at its quickest pace in eight months in July, driven by growth in orders and output as demand continued to improve, a private survey showed.

Oil prices on Monday dropped after weak July manufacturing data from China and Japan weighed on the demand outlook, while investors awaited this week's meeting of officials from OPEC and other top producers on supply adjustments.

In domestic trading, Tata Motors Ltd and Mahindra and Mahindra Ltd were the top gainers on the Nifty 50 index, climbing 6.6% and 6.3%, respectively.

Tata Motors reported a 52% jump in total domestic sales in July from a year ago, and Mahindra and Mahindra said domestic passenger vehicles sales rose 33% last month. (https://bit.ly/3zq0AO7)(https://bit.ly/3cZPyId)

The Nifty auto sub-index rose 3.3% to scale an all-time high and was the best-performing.

Among other individual stock moves, agrochemicals maker UPL Ltd climbed 3.5% after posting a 29.5% jump in quarterly net profit. (https://bit.ly/3OPQjRl)

Globally, stocks hit seven-week highs on Monday, buoyed by recent strong corporate earnings and easing concerns about hefty interest rate hikes.

(Reporting by Rama Venkat in Bengaluru and additional reporting by Gaurav Dogra; Editing by Sherry Jacob-Phillips and Dhanya Ann Thoppil)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL -0.41% 88.35 Delayed Quote.9.98%
MAHINDRA AND MAHINDRA LTD 1.28% 1258.35 Delayed Quote.48.41%
NIFTY 50 -0.24% 16818.1 Delayed Quote.-2.86%
SENSEX BSE30 -0.33% 56409.96 Real-time Quote.-3.17%
TATA MOTORS LIMITED 0.81% 402.3 End-of-day quote.-16.60%
WTI -0.60% 81.219 Delayed Quote.8.46%
All news about MAHINDRA AND MAHINDRA LTD
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09/28Tata Motors launches $10,000 electric car in India to further its lead
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09/23Mahindra & Mahindra Eyes $500 Million Fund for Electric Vehicle Business
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Analyst Recommendations on MAHINDRA AND MAHINDRA LTD
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Financials
Sales 2023 754 B 9 238 M 9 238 M
Net income 2023 64 070 M 785 M 785 M
Net cash 2023 66 460 M 814 M 814 M
P/E ratio 2023 23,3x
Yield 2023 1,01%
Capitalization 1 399 B 17 145 M 17 145 M
EV / Sales 2023 1,77x
EV / Sales 2024 1,51x
Nbr of Employees 260 000
Free-Float 67,4%
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Technical analysis trends MAHINDRA AND MAHINDRA LTD
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Mean consensus -
Number of Analysts 0
Last Close Price 1 258,35
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Managers and Directors
Anish Dilip Shah Chief Executive Officer, MD & Director
Manoj Bhat President & Group Chief Financial Officer
Anand Gopal Mahindra Executive Chairman
Mohit Kapoor Group Chief Technology Officer & Executive VP
Rucha Nanavati Chief Information Officer
Sector and Competitors
1st jan.Capi. (M$)
MAHINDRA AND MAHINDRA LTD48.41%16 904
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GENERAL MOTORS COMPANY-39.88%51 396
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