2025-01-17 10:29:53 am | Source: Motilal Oswal Financial Services Ltd
Buy Mahindra & Mahindra Ltd For Target Rs. 3,515 by Motilal Oswal Financial Services Ltd
* While auto volumes were up 17% YoY, tractors posted a smart recovery with a 20% YoY growth in 3Q.
* While tractor segment margins should improve 100bp QoQ to 18.5%, auto segment margin to decline 50bp QoQ to 9% due to high discounts and increased promotional spends in 3Q.
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