M&M shares jump 5% after Q4 show. Should you buy or sell?

Mahindra and Mahindra (M&M) has reported a 22% YoY growth in standalone net profit for the March quarter, at INR 1,549 crores ($207m). However, it was lower than Street estimates. On a consolidated level, M&M’s FY23 profit rose 56% to an all-time high of INR 10,282 crore. Following the earnings announcement, its stock was trading nearly 5% higher on BSE at INR 1,382 and was the top Sensex performer. Macquarie has an ‘Outperform’ stance on the counter, Goldman Sachs and Nuvama have taken a ‘Buy’ view on the stock.