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Mahindra & Mahindra Financial Services Ltd: CMP Rs. 280.30 (As on 24th June, 2014) Rating: Bu

tushar
6/25/2014 12:00:00 AM
  602
  0

Mahindra & Mahindra Financial Services Ltd: CMP Rs. 280.30 (As on 24th June, 2014) Rating: Bu

Mahindra & Mahindra Financial Services Ltd: CMP Rs. 280.30 (As on 24th June, 2014)

Rating: Buy


Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets, has been very volatile stock despite having strong fundamentals. Recently India Ratings & Research Pvt Ltd had upgraded company’s long term debt programme from ‘IND AA+’ to ‘IND AAA’ with a stable outlook. This signals quite positive trend for a specific period of time.


MMFSL’s net profit was at Rs 310.70 crore in the quarter ended March 2014 as against Rs 333.81 crore during the previous quarter ended March 2013. For the full year, net profit reported to Rs 887.23 crore in the year ended March 2014 as against net profit of Rs 882.69 crore during the previous year ended March 2013. The results were not as per market expectations so we had seen a sizable correction and the stock reached to the level of Rs. 240. On 17th April, 2014 the stock was fell to Rs. 229.50 and again on 23rd May, 2014 it was reached to Rs. 321.50 level. Looking at this stock’s performance behavior, one can enter at this level. The stock may see upward direction from this level.

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