Mahindra & Mahindra (M&M) share price: Shares of Mahindra & Mahindra surged 4 percent to Rs 3,254 on Friday, emerging as the top gainer on the Nifty 50, as brokerages maintained bullish ratings on the automaker following its Q2 FY27 results. Analysts cited strong utility vehicle (UV) demand, upcoming launches and capacity expansion as key growth drivers, even as concerns mounted over slowing tractor sales.
M&M shares extended gains after jumping 5.6 percent on Thursday following the announcement of its quarterly earnings. The stock's rally came despite weakness in the broader automobile sector, with the Nifty Auto index declining 0.6 percent on Friday.
CLSA maintained its High Conviction Outperform rating with a target price of Rs 4,650, implying an upside of approximately 49 percent from Thursday's closing price. Citi retained its Buy rating with a target of Rs 4,330, while Bernstein maintained an Outperform rating with a target of Rs 4,100.
Despite the recent rally, M&M shares remain down 13.8 percent so far in 2026, compared with a 5.8 percent decline in the Nifty 50. The company's market capitalisation stood at approximately Rs 4.04 lakh crore.
Share Markets Live Updates | Sensex, Nifty, GIFT Nifty Today