Mahindra and Mahindra Share Price
Sharees of Mahindra Group’s Flagship company Mahindra and Mahindra Limited rose on Friday. The company’s shares rose by 8 percent after the March quarter results.
The stock touched a high of Rs 2,557.95 during trading. The stock has gained the most since August 2022. Friday’s rally has given the stock a return of over 45% in 2024 and has made it the best performing stock on the Nifty 50 in 2024. Shares of Mahindra and Mahindra have almost doubled their return in the last 12 months.
(Excerpt from Mahindra and Mahindra Ltd) About 90 percent of the 41 analysts covering automobile and tractor maker Mahindra and Mahindra maintained their ‘buy’ recommendation on the stock after its March quarter results. Experts predict that the stock will reach a high of Rs 2900 in the next 12 Months. On Saturday (18 May 2024), the stock was trading at Rs 2,504, down 0.40%. Mahindra and Mahindra announced its March quarter results on Thursday.
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The company’s revenue and margin for the quarter were higher than expected. The company’s auto segment remained strong, while the tractor segment remained under pressure. Mahindra and Mahindra’s net profit rose 4 percent to Rs 2,754 crore in the fourth quarter of last fiscal. As a result, the company had earned a net profit of Rs 2,637 crore in the corresponding quarter of the previous financial year.
Mahindra and Mahindra on Tuesday reported a 9 percent rise in revenue to Rs 35,452 crore in the fourth quarter of 2023-24. It was Rs 32,456 crore in the fourth quarter of 2022-23. In the financial year 2023-24, the company’s profit increased by 25 percent to Rs 11,269 crore. The company revenue increased by 15 percent to Rs 1,39,078 crore.
Meanwhile, the company’s board of directors has approved a dividend of Rs 21.10 per share of face value of Rs five. Disclaimer: Target is based on mutual fund and share market investment risk. Consult your financial advisor before investing in the stock market. hindustanfocus.in will not be responsible for any financial loss.