M&M has launched the Mahindra Scorpio-N, which is expected to give a big boost to its SUV business. Brokerage houses are also bullish on the stock.
Mahindra & Mahindra Stock Price: The shares of the giant auto company Mahindra & Mahindra (Mahindra & Mahindra-M&M) are seeing a rise today. In today’s trading, the stock gained more than 1 percent to reach a price of Rs 1095, which is a one-year high. In fact, the company has launched the Mahindra Scorpio-N, which is expected to give a big boost to its SUV business. The brokerage houses are also bullish about this launch and they believe that the company will get the benefit of launching multiple SUVs. At the same time, due to the continuous recovery in the auto sector, M&M will also get the benefit of demand in the private vehicle segment.
Stocks in News: These stocks, including ICICI Bank, JSW Steel, Star Health will be in action, keep an eye on intraday
What to say about brokerage house
Brokerage house Morgan Stanley has given an overweight rating on M&M and has set a target of Rs 1198. The brokerage house says that due to the continuous focus in the SUV segment, the company will benefit from other companies. At the same time, due to the recovery in the sector, it will also get the benefit of increasing demand in the private segment.
Brokerage house CLSA has given Buy rating on M&M and has set a target of Rs 1356 for the stock. The brokerage house says that the Scorpio-N will give a boost to the company’s SUV business. Due to the advanced features at a low price, its craze can be seen in the customers. On the other hand, if the problem of chip supply is less, then the company’s volume can see better growth.
Brokerage house Nomura has also given a buy rating on M&M and has set a target of Rs 1308 for the stock. The brokerage says that the new Scorpio-N is another potential winner. This will bring a transformation in the lifestyle of the SUV maker. For FY23-24, 10 to 15 percent growth can be seen in overall volumes.
Features of Scorpio-N
M&M has named the all-new 2022 Mahindra Scorpio-N as the Big Daddy of SUV nick. The company has described this SUV as a complete package, which has been designed keeping in mind people of all ages. The Scorpio-N will get 2 turbocharged engine options. It will be petrol and diesel engines. It has many special features including a cluster of 17.8 cm, premium and spacious interior, intelligent 4X terrain management system, powerful diesel and petrol powertrains, multiple drive modes. After all, it gets remote engine start and temperature control, highest command seating, 6-way power adjustable driver’s seat, coffee black leatherette seats, widest sunroof in the segment, 20.32 cm touchscreen infotainment system, over 70 connected car features, with 3D sound. There are many special features including Sony’s 12 premium speakers, Alexa Enabled What3words.
(Disclaimer: Stock investment advice is given by the brokerage house. These are not the personal views of The Financial Express. Markets are risky, so take expert opinion before investing.)