Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
Mahindra & Mahindra Limited is an Indian multinational car manufacturing corporation headquartered in Mumbai, Maharashtra, India. It was established in 1945 as Mohammad & Mahindra and later renamed as Mahindra and Mahindra. It is one of the largest vehicle manufacturers by production in India and the largest manufacturer of tractorsin the world.
* Mahindra & Mahindra, brands its products as "Mahindra", produces SUVs, saloon cars, pickups, lightweight commercial vehicles, heavyweight commercial vehicles, two wheeled motorcycles and tractors. Mahindra maintains business relations with foreign companieslike Renault SA, France.
* M&M has a global presence and its products are exported to several countries. Its global subsidiaries include Mahindra Europe S.r.l. based in Italy, Mahindra USA Inc., Mahindra South Africa and Mahindra (China) Tractor Co. Ltd. In 2015, Mahindra reentered the Philippine market after a brief presence in 1990s.
* In December 2015, Mahindra and Mahindra Ltd and affiliate Tech Mahindra Ltd, through a special purpose vehicle (SPV), have agreed to buy a 76.06% stake in Italian car designer Pininfarina SpA, for around Rs.186.7 crore. In January 2017, Mahindra and Mahindra Ltd (M&M) acquired a 75.10% equity stake in Hisarlar Makina Sanayi ve Ticaret Anonim Şirketi (Hisarlar), a farm equipment company, marking its entry into Turkey.
* In September 2017 Mahindra and Mahindra Ltd acquired Erkunt Traktor Sanayii AS, a Turkish tractor maker and its foundry business for Rs. 800 crore.
* On a weekly chart, the stock has been trading with a strong support of Upward Rising Trend line since last many weeks which suggests a bounce back movement in the counter.
* On a daily chart, the stock has been trading in a Symmetrical Triangle formation where the stock has taken the support of its lower band of the pattern which again indicates a bounce back move.
* Moreover, after a healthy correction from its All-Time High on a monthly chart, the stock has halted its downside move at 608 level which is a 61.80% Fibonacci Retracement level of its previous up move from 370 level to 993 level which suggests northward movement in the counter.
* A weekly momentum indicator RSI reading is at 41.45 level with upward Rising Trend line which points out for a positive breath in the counter.
* Based on the above technical structure, we are expecting a good upside movement in the counter in a few trading sessions.
To Read Complete Report & Disclaimer Click Here
For More choiceindia Disclaimer https://choicebroking.in/disclaimer
Above views are of the author and not of the website kindly read disclaimer