One should keep buying on Mahindra and Mahindra with a target price of Rs 730. For 4QFY2008, Mahindra and Mahindra (M&M) clocked net sales of Rs 3148 crore, which was marginally above our expectation of Rs 3021 crore. There was an exceptional profit of Rs 13.9 crore during the quarter, arising mainly from a merger scheme of subsidiaries approved by the High Court of Bombay. Net Profit for the quarter after Exceptional Items, Prior Period Adjustments and Taxation stood at Rs 207.2 crore, down 9.1% yoy.
Friday, May 30, 2008
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