CLSA has sharply raised a target price on Mahindra & Mahindra to Rs 1,220 versus their earlier target price of Rs 1,090.
CLSA believes that the sharp turnaround in consolidated earnings and RoE has driven this re-rating on M&M. They are estimating consolidated RoE to rise from 9 percent from FY21 to up to 16 percent by FY23.
In terms of core businesses, they expect a strong earnings growth both for farms and autos with a consolidated CAGR of 20 percent over the next two years.
Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.
First Published: Dec 15, 2021 10:03 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election Phase 5 Voting Live Updates: Leaders, actors among early voters as 49 seats poll today
May 20, 2024 6:34 AM