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The Economic Times

Business

Veer Sharma

M&M shares climb 3% after strong Q1 results. Morgan Stanley sees up to 29% upside scope

Morgan Stanley MM

Shares of SUV major Mahindra & Mahindra (M&M) rose as much as 3% to the day’s high of Rs 3,365 on the BSE on Friday after it reported a 7% year-on-year (YoY) rise in standalone net profit for the June quarter.

Standalone profit came in at Rs 3,685 crore compared to Rs 3,450 crore in the corresponding quarter last year, while revenue from operations grew 23% YoY to Rs 41,920 crore.

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