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M&M shares climb after CLSA maintains buy call

CLSA believes RoE enhancement is a key focus as the management of the company reiterated its medium-term 18 percent consolidated RoE target. ​

Shares of Mahindra & Mahindra (M&M) climbed over a percent higher in morning trade on September 10 after global brokerage firm CLSA maintained a buy call on the stock.

As per CNBC-TV18, CLSA has set a target price of Rs 730 for M&M and said that the company has a strong near-term outlook.

CLSA believes RoE enhancement is a key focus as the management of the company reiterated its medium-term 18 percent consolidated RoE target. ​

Supply constraints are a bigger issue than demand, especially in the SUV segment, CLSA said.



The global brokerage firm highlighted that the company expects rural incomes to improve year-on-year (YoY).

On September 9, Mahindra Electric Mobility said it has globally launched its MESMA 48 platform for EVs, which has to date powered over 11,000 such vehicles on Indian roads.

Shares of M&M traded 0.81 percent higher at Rs 619.20 on BSE at 10:30 hours.

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