Mahindra & Mahindra
Reco price/date: Rs 809/September 24
Current/target price: Rs 840/Rs 849
M&M launched one of the smallest SUVs, the Quanto, a sub-four metre car, at Rs 5.82-7.36 lakh. Quanto is likely to compete with i20, Swift and Dzire. It is expected to clock in volumes of 2,000/month. Analysts expect the auto segment to grow at 15 per cent CAGR in FY12-FY14. They expect tractor volumes to be flat in FY13 and to grow at 7-8 per cent in FY14. They have revised volume estimates up by 3.3 per cent for auto segment and 1.5 per cent for tractors in FY14. Their FY14 estimated earnings are revised upwards by 4 per cent. Maintain accumulate
Prabhudas Lilladher
