M&M shares rise 4% and extend post-Q2 rally as brokers stay bullish
Mahindra & Mahindra shares gained 4% to Rs 3,254 after strong Q2 FY27 results, with CLSA, Citi and Bernstein keeping positive ratings, per TradingView.
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what happened
Shares of Mahindra & Mahindra (M&M) rose 4% to Rs 3,254 on Friday, making the company the top gainer on the Nifty 50, according to TradingView. The stock had already climbed 5.6% on Thursday after the release of its Q2 FY27 earnings. Brokerages kept their bullish ratings, pointing to robust demand for utility vehicles, upcoming launches and capacity expansion. The broader auto sector was weaker, with the Nifty Auto index down 0.6% on the day.
CLSA retained its High Conviction Outperform rating with a target of Rs 4,650, Citi kept its Buy rating with a target of Rs 4,330, and Bernstein maintained Outperform with a target of Rs 4,100. Consolidated net profit rose 25% year on year to Rs 4,588 crore, and revenue grew 25% to Rs 57,553 crore. Despite the rebound, the shares are still down 13.8% so far in 2026, while the Nifty 50 has fallen 5.8%.
why it matters
The main concern is the farm segment. Citi lowered its FY27 tractor industry growth outlook to flat, citing weak monsoons and low reservoir levels, while CLSA argues the worries are overdone since farm is expected to contribute about 30% of FY28 EBIT. Investors will be watching whether earnings growth from the automotive business can offset the slowdown in tractors.
market impact
M&M shares and India's auto sector: strong results and positive ratings support the stock
- M&M shares pressure up — strong results and positive broker ratings support buying interest in the stock
tags
instruments
sources
- M&M shares jump 4%, extend post-Q2 rally as brokerages remain bullish on auto growth despite tractor concerns — TradingView, 6 November 2026 at 05:49 UTC
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