Emkay maintains a `BUY` on Mahindra and Mahindra

Emkay Shares and Stock Brokers maintained a BUY rating on Mahindra and Mahindra with a target price of Rs 410.

The analysts at Emkay say that M&M`s Q2FY09 performance was in line with expectation aided by higher inventory accretion and lower tax rate. The analysts said that while net sales at 31.1 billion were below their expectation by 4%, adjusted EBIDTA at Rs 2.5 billion was ahead of expectation by 4%. Adjusted net profits at Rs 2.3 billion, were in line with the expectation. More
Courtesy: indiacar.net

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