Amid a weak start, a top brokerage firm has made Auto Stock Mahindra And Mahindra Ltd (NSE: M&M) a technical pick. A brokerage suggested buying this stock for 2 to 3 days.
Domestic stock markets started flat. Sensex opened 4 points lower at 81,155. Nifty opened 17 points higher at 24,798.
Bank Nifty opened 109 points higher at 52,071 and the rupee opened unchanged at 84.07/$.
M&M: Good Profit Will Be Made In 2-3 Days
A renowned brokerage firm has announced M&M as a top technical choice. ‘Buy’ is advised in the next 3 to 3 days.
The target of the stock is Rs 3150. On 21 October 2024, the stock closed at 2998. Thus, it could gain around 4 to 5 % in the future.
M&M: Stock Ran 75% This Year
M&M started in the green mark in a flat market. However, after a while, it weakened by half a percent due to selling pressure.
This stock increased 2 percent over the past month. At the same time, the stock has posted gains of 6 % over the last three months and 42 %t in the past 6 months.
In the last week, the stock has declined to 5 %. The return over one year in the stock has been about 75 percent and 92 percent in 2024.
The 52-week high for the stock on the BSE is 3,221 while the lowest point at 1,450. The market capitalization that the firm has is greater than Rs 3,59,169 crore.
Quick Fact
| Company name | M&M |
|---|---|
| Recommended | Buy |
| Strategy | Technical pick |
| Time | 2-3 days |
| Possible target price | ₹3,150 |
| Closing price (21 Oct 2024) | ₹2,998 |
| Upside potential | 4-5% |
| Year-to-date gain | 75% |
| 1-year return | 92% |
| 6-month gain | 42% |
| 3-month gain | 6% |
| 1-month gain | 2% |
| 1-week change | -5% |
| Market cap | ₹ 3,59,169 crore |
| Recent movement (22 Oct 2024) | Started in green but fell by 0.5% |
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