M&M shares jump 3% on strong Q1 earnings. Should you join the ride?
Nomura has increased its price target to Rs 1,978 from Rs 1,790 on M&M shares while maintaining a buy. It said that Q1 results were slightly better than the brokerage’s estimates with lower other expenses offsetting higher RM/sales. It said that the investment in RBL Bank has a strategic objective.
