Mahindra & Mahindra Quarterly Outlook

Mahindra Logistics' Alyte launches free emergency cab services to ...
Mahindra & Mahindra, from its recent fall till 245.40 has gain whopping 109% upside and trading at 514 today (23.06.2020; 01:00 PM IST). 

This upward movement is mainly drive by tractor segment and company's strong operational performance in the January-March quarter (Q4FY20). 


The company reported standalone net sales for the quarter were at Rs. 9,144 crore.
As per the company management "The overall service and manufacturing sectors are likely to see a slower recovery, the agriculture and farm equipment sector will be less impacted"

On charts M&M looking bullish and the share price can move up to 580 - 600 levels soon. Level of 590 would act as first resistance; once crossed the next resistance level would be at 653. On downside 460 will work as an immediate support.
Mahindra & Mahindra India Mahindra Tractors John Deere - Old ...

Recently M&M announced that they will develop four new platforms for tractors along with Mitsubishi. 
This will further push the sales of tractors in rural market as monsoon has already approached many parts of the country. 
 


By Sandesh Nandode; Research Analyst- IndoNext EduTech
Location: Mumbai, Maharashtra, India

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