Mahindra & Mahindra, one of India’s leading automotive companies, saw its shares surge to a 52-week high after reporting a strong performance in the January to March quarter. The company’s consolidated net profit rose to ₹2,754 crore, driven by its robust SUV portfolio.
Investors reacted positively to the news, with the company’s stock price jumping as much as 7.6% to ₹2,554.75 on the BSE. The market capitalization of Mahindra & Mahindra stood at ₹3,12,723.67 crore, reflecting the confidence of investors in the company’s growth prospects.
The company’s revenue from operations also saw a significant increase, rising by 9% to ₹35,452 crore in the last quarter. Mahindra & Mahindra has earmarked a capital expenditure of ₹37,000 crore over the next three years, with a focus on its electric vehicle unit and ICE portfolio.
Brokerage firms have revised their target prices for Mahindra & Mahindra, with Nuvama Institutional Equities and Motilal Oswal raising their target prices following the strong quarterly results. Emkay Global also maintained a positive outlook on the company’s future growth potential, citing strong demand in both the automotive and farm segments.
Overall, Mahindra & Mahindra’s performance in the last quarter has impressed investors and analysts alike, positioning the company for continued growth in the coming years.