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    M&M   INE101A01026

MAHINDRA AND MAHINDRA LTD

(M&M)
  Report
Delayed NSE India Stock Exchange  -  05:29 2022-11-28 am EST
1250.70 INR   -0.80%
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India shares up on auto rally ahead of sales data

08/01/2022 | 01:39am EST

BENGALURU, Aug 1 (Reuters) - Indian shares kicked off August trading on a positive note on Monday, after having logged their best gains since November 2020 last month, led by sharp advances in automakers.

The NSE Nifty 50 index rose 0.6% to 17,261.05, as of 0500 GMT, and the S&P BSE Sensex climbed 0.55% to 57,887.50.

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. The monthly sales data from automakers on Monday will also be a guiding factor, Gandhi said.

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, oil prices dropped as weak July manufacturing data from China and Japan weighed on demand outlook, while investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments.

In domestic trading, Mahindra and Mahindra Ltd and Tata Motors Ltd were the top gainers on the Nifty 50 index, climbing 6.2% and 3.7%, respectively.

The Nifty auto hit a record high, turning the best performing sub-index, after advancing as much as 3.3% in morning trade.The index jumped 7.2% in July.

Among individual stock moves SpiceJet climbed as much as 5.6% after it said flight operations normalised following the aviation regulator's order to halve fleet capacity.

Indian Oil Corp Ltd slipped 3% after the country's top refiner on Friday reported a quarterly net loss for the first time in more than two years, as it sold fuel at a discount.

In broader Asia, shares were sluggish on Monday as disappointing Chinese economic data raised doubts on sustained Wall Street's rally.

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


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL -2.87% 81.02 Delayed Quote.9.14%
INDIAN OIL CORPORATION LIMITED 3.89% 76.2 Delayed Quote.-1.32%
MAHINDRA AND MAHINDRA LTD -0.80% 1250.7 Delayed Quote.50.61%
NIFTY 50 0.27% 18562.75 Delayed Quote.6.68%
SENSEX BSE30 0.34% 62504.8 Real-time Quote.6.93%
SPICEJET LIMITED 0.39% 38.85 End-of-day quote.-42.95%
TATA MOTORS LIMITED 2.34% 433.25 End-of-day quote.-10.18%
WTI -2.91% 73.857 Delayed Quote.3.43%
All news about MAHINDRA AND MAHINDRA LTD
11/23INDIA STOCKS-Indian shares seen opening higher as Fed hints at rate slowdown
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11/21Public Sector Banks Withstand Weakness in Indian Equities; Oil & Natural Gas Drops 6%
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11/18Weakness in Auto and Pharma Stocks Weigh on Indian Equities; Mahindra & Mahindra Tops L..
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11/15Nomura Adjusts Mahindra and Mahindra's Price Target to 1,616 Indian Rupees From 1,505 R..
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11/14M&M Q2 PAT at Rs2,090 crore up 46%; Q2 Consolidated PAT at Rs2,773 crore up 44%
AQ
11/11Mahindra & Mahindra's Second-Quarter Profit Rose 44%
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11/11Transcript : Mahindra & Mahindra Limited, Q2 2023 Earnings Call, Nov 11, 2022
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11/11India's Mahindra and Mahindra reports Q2 profit jump
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11/11Mahindra & Mahindra Limited Reports Earnings Results for the Second Quarter and Six Mon..
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Analyst Recommendations on MAHINDRA AND MAHINDRA LTD
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Financials
Sales 2023 802 B 9 807 M 9 807 M
Net income 2023 67 285 M 823 M 823 M
Net cash 2023 67 977 M 832 M 832 M
P/E ratio 2023 22,3x
Yield 2023 1,04%
Capitalization 1 402 B 17 153 M 17 153 M
EV / Sales 2023 1,66x
EV / Sales 2024 1,42x
Nbr of Employees 260 000
Free-Float 72,0%
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Mean consensus -
Number of Analysts 0
Last Close Price 1 260,80
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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
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