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Business Standard
11 hours ago
- Automotive
- Business Standard
M&M shares up for 3rd straight day, rebounds 34% from April low; here's why
Shares price of Mahindra & Mahindra (M&M) today: Shares of automobile giant Mahindra & Mahindra (M&M) were up 2 per cent to ₹3,160 on the BSE in Friday's intra-day trade. The stock price of M&M is trading higher for the third straight day, gaining 5 per cent during the period. It has recovered 34 per cent from its 52-week low of ₹2,360.45 touched on April 7, 2025. The market price of M&M is inching towards its all-time high level of ₹3,276.30 touched on February 10, 2025. Thus far in the month of June 2025, M&M has outperformed the market by rising 6 per cent. In comparison, the BSE Sensex and BSE Auto index were up 0.27 per cent and 0.58 per cent, respectively. Why has M&M outperformed the market in the month of June? The M&M automotive segment reported a healthy growth of ~17.3 per cent year-on-year (Y-o-Y) with 84,110 units. SUV segment volumes for the month came in at 52,431 units, up 21.3 per cent Y-o-Y. M&HCV witnessed a growth of 1 per cent Y-o-Y at 1,094 units. Tractors sales also reported a healthy growth of 9.5 per cent Y-o-Y at 40,643 units. Within this, domestic sales reported a healthy growth of 10.4 per cent Y-o-Y at 38,914 units. Early advancement of above normal Southwest monsoon should bode well for kharif sowing. Land preparation activities are progressing well for paddy sowing. Approval of hike in MSP for Paddy and other kharif crops will bring positive sentiments among farmers. Better reservoir levels, Government announcement of record foodgrain production and introduction of various schemes will help farmers aim higher productivity going forward and in turn augur well for tractor demand, according to M&M. Meanwhile, according to media sources, Aernnova Aerospace and Mahindra Aerostructures have signed a multi-year manufacturing contract valued at ~$300 million, significantly expanding their 12-year partnership. ALSO READ | Kaynes Technology gains 4% after launching QIP to raise ₹1,600 cr; Details Under this agreement, Mahindra Aerostructures will produce metal sub-assemblies and components for Airbus and Embraer aircraft, including the Embraer C390 Millennium military transport. The Indian company will supply these components to Aernnova's facilities in Spain, the UK, Portugal, and Brazil, supporting production ramp-ups as the aerospace sector rebounds globally. Mahindra Aerostructures is a wholly-owned subsidiary of M&M, specialising in the production of metallic parts and assemblies for leading global aerospace majors. It operates a state-of-the-art facility in Bengaluru, India, which was inaugurated in 2013 and commenced serial deliveries in 2015. Mahindra Aerostructures delivers over 120,000 parts and assemblies monthly to destinations in Europe, North America, and Australia. This contract highlights Mahindra's growing role in the global aerospace supply chain and underscores India's emergence as a trusted manufacturing partner for leading international OEMs, ICICI Securities said in a note. ALSO READ | While growth outlook for the passenger vehicle (PV) industry is muted at ~1-2 per cent, a 15-20 per cent growth outlook for M&M's utility vehicles (UVs) is encouraging (a similar divergence in M&M's growth versus the industry was seen in FY25 when M&M delivered on its guidance). Continued upcycle in the Tractor industry will support valuations in the medium term. Monitor the execution of battery electric vehicles (BEVs) in the coming months as this is crucial for M&M to meet its upcoming CAFÉ targets (of having ~20-25 per cent of the portfolio from BEVs), as also support current valuations, analysts at Elara Capital said in quarterly update.
Business Standard
5 days ago
- Automotive
- Business Standard
MRF Ltd Falls 0.69%
MRF Ltd has lost 2.6% over last one month compared to 3.03% fall in BSE Auto index and 1.57% drop in the SENSEX MRF Ltd lost 0.69% today to trade at Rs 136594.55. The BSE Auto index is down 0.55% to quote at 52035.5. The index is down 3.03 % over last one month. Among the other constituents of the index, Apollo Tyres Ltd decreased 0.58% and Mahindra & Mahindra Ltd lost 0.41% on the day. The BSE Auto index went down 10.8 % over last one year compared to the 5.25% surge in benchmark SENSEX. MRF Ltd has lost 2.6% over last one month compared to 3.03% fall in BSE Auto index and 1.57% drop in the SENSEX. On the BSE, 4 shares were traded in the counter so far compared with average daily volumes of 527 shares in the past one month. The stock hit a record high of Rs 147401 on 26 May 2025. The stock hit a 52-week low of Rs 100500 on 05 Mar 2025.
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Business Standard
15-05-2025
- Automotive
- Business Standard
Auto index soars 25% from April low; Hero Moto, TaMo gain up to 6% on Thurs
Shares of automobiles companies continued their upward trajectory with the BSE Auto index gaining over 2 per cent on the BSE in Thursday's intra-day trade on positive management commentaries and expectations of stable growth. At 02:47 PM; the BSE Auto index, the second largest gainer among sectoral indices, was up 2 per cent, as compared to 1.5 per cent rise in the BSE Sensex. The auto index gained 2.2 per cent at the day's high of 53,486 in intra-day trade. Hero MotoCorp, Tata Motors, Bajaj Auto, TVS Motor Company and Ashok Leyland from the index were up in the range of 2 per cent to 6 per cent. The non-index stocks, SML Isuzu and Force Motors rallied 9 per cent and 7 per cent, respectively. In the past one week, the BSE Auto index has outperformed the market by surging 9 per cent, as compared to 3.8 per cent rise in the BSE Sensex. The auto index has recovered 25 per cent from its previous month low of 42,834.11 touched on April 7, 2025. Among individual stocks from the index, Hero MotoCorp has rallied 6 per cent to ₹4,323.25 in intra-day trade as analysts expect recovery in rural demand to be positive for the company, given its robust network. Looking ahead, the management of Hero MotoCorp said they remain optimistic about the near‐to‐mid‐term outlook as key macroeconomic indicators, including revised income tax slabs, repo rate cuts, a strengthening rural economy, and a favourable monsoon forecast, are expected to support industry growth. On the back of tailwinds such as favourable monsoon forecast, low inflation and robust marriage season, Hero MotoCorp expects two-wheeler industry to grow at 6-7 per cent in FY26. However, the company expects to outperform industry growth, supported by recovery in rural demand aiding in market share gains in the entry-level segment (Q4FY25 market share at 65 per cent), positive response to new model launches (two new ones in July 2025). Channel inventory stands at normalized levels of 4-5 weeks with the company anticipating further increase before the festival period. Analysts at Elara Capital reiterated 'Accumulate' rating on Hero MotoCorp with a target price of ₹4,558 based on 16x June 2027E P/E and ~₹173 is ascribed to the Ather stake, led by appreciation in Ather valuation and roll forward to June 2027E. Meanwhile, Tata Motors said tariffs and related geo-political actions are making the operating environment uncertain and challenging. The global premium luxury segment and Indian domestic markets are expected to weather this relatively better. With most macroeconomic indicators on track, improved fleet utilization and stable sentiment index, the company anticipates sustained growth despite global headwinds for commercial vehicles (CV) segment. On passenger vehicles (PV) segment, Tata Motors said overall demand growth will be shaped by macroeconomic factors such as consumption growth, inflation, infrastructure spending and global geopolitics. However, industry momentum is expected to be driven by continued innovation in line with evolving customer preferences. SUVs, CNG, and EVs will remain key growth drivers, fueling the industry's expansion. Share price of Tata Motors was up 4 per cent at ₹727 on the BSE in intra-day trade today. The stock has bounced back 33 per cent from its previous month low of ₹542.55 on April 7, 2025. Last week, India and the United Kingdom (UK) signed a Free Trade Agreement (FTA). According to media reports, India will cut its automotive tariffs to 10 per cent from its current level of more than 100 per cent. Most automotive manufacturing plants in the UK are of premium and luxury brands, such as Bentley, BMW, Rolls-Royce, and Aston Martin, said analysts at BNP Paribas India. While among them, Jaguar Land Rover (JLR) could be a key beneficiary, the brokerage firm notes that one of its key models, Defender, is not manufactured in the UK. Also, JLR already uses its India based assembly plant for several models to enjoy the lower duty. Kunal Vora, Head of India Equity Research at BNP Paribas India said trade deal optimism turns risk-on sentiments for emerging markets. The foreign institutional investors (FIIs) turned positive on most of the emerging markets as news flow on trade and tariffs improved. Markets have reacted positively to the tariff pause, the US-UK trade deal and rollback of recent tariffs between US-China.
Business Standard
14-05-2025
- Automotive
- Business Standard
Tata Motors Ltd Slides 2.8%
Tata Motors Ltd has added 15.64% over last one month compared to 12.16% gain in BSE Auto index and 8.3% rise in the SENSEX Tata Motors Ltd fell 2.8% today to trade at Rs 688.1. The BSE Auto index is down 0.48% to quote at 51654.29. The index is up 12.16 % over last one month. Among the other constituents of the index, Hero MotoCorp Ltd decreased 2.36% and Tube Investments of India Ltd lost 1.5% on the day. The BSE Auto index went down 0.75 % over last one year compared to the 11.34% surge in benchmark SENSEX. Tata Motors Ltd has added 15.64% over last one month compared to 12.16% gain in BSE Auto index and 8.3% rise in the SENSEX. On the BSE, 2.08 lakh shares were traded in the counter so far compared with average daily volumes of 14.88 lakh shares in the past one month. The stock hit a record high of Rs 1179.05 on 30 Jul 2024. The stock hit a 52-week low of Rs 542.55 on 07 Apr 2025.
Time of India
09-05-2025
- Automotive
- Time of India
Can M&M maintain its growth momentum with new product launches?
The stock of Mahindra & Mahindra (M&M) has gained 4per cent in the past four trading sessions after the company posted strong performance for the March quarter, outpacing the 1.6per cent gain in the BSE Auto index. The tractors-to-sports utility vehicles (SUV) maker gained market share and reported margin expansion across business segments. To address rising demand, the company plans to increase the capacity to 85,000 units per month by FY27. It has planned 17 new launches by 2030, which includes 5 battery electric vehicles (BEV). Analysts have reiterated 'buy' with an upside of 15-17per cent to Thursday's closing stock price of ₹3,031 on the BSE. The company's March quarter automobile sales grew by 17.5per cent to 2,53,028 vehicles and tractors grew by 22.7per cent to 87,138 units year-on-year. Sequentially, while automobiles rose by 3per cent, tractor sales slipped by 28per cent owing to seasonal factors. For FY25, Mahindra's SUV volume surpassed its tractor volume, increasing by 20per cent to 551,000 vehicles whereas tractor volume was up by 12per cent to 4,20,636 vehicles. The revenue market share of SUVs increased by 210 basis points to 22.5per cent, driven by Mahindra's XUV3XO and Thar Roxx. The company is in the process of increasing capacity for each of the models by 1,500 vehicles per month in FY26. For tractors, the market share rose by 170 bps and 43.3per cent. The management anticipates the farm segment to grow in mid-single digit for FY26, outpacing the industry growth. YES Securities expect market share gains will now be gradual for M&M in FY26, as the impact of new launches in the lightweight tractor category including OJA and Swaraj would normalise. "We have assumed the tractor industry to grow 5-7per cent while MM's FES volumes to grow 8per cent in FY26," the brokerage said in a report. In the medium term, apart from the slated capacity addition, the company plans to unveil a new platform on 15 August in Chakan, with an annual capacity of 1,20,000 units. Motilal Oswal Financial Services has raised earnings estimates for the company by 4-6per cent for FY26 and FY27, citing that it is well-placed to outperform across core businesses led by a recovery in rural areas and new product launches. It has reiterated 'buy' with a target price of ₹3,482.
